Bank of New York Mellon Corp Has $6.61 Million Stock Position in Vitesse Energy, Inc. (NYSE:VTS)

Bank of New York Mellon Corp increased its stake in Vitesse Energy, Inc. (NYSE:VTS) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 264,442 shares of the company’s stock after purchasing an additional 1,566 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vitesse Energy were worth $6,611,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Vitesse Energy in the 3rd quarter valued at about $34,000. R Squared Ltd bought a new position in Vitesse Energy in the 4th quarter valued at about $79,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Vitesse Energy during the 3rd quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vitesse Energy by 143.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock worth $150,000 after purchasing an additional 3,679 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Vitesse Energy by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 8,784 shares of the company’s stock worth $220,000 after purchasing an additional 418 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VTS has been the topic of several analyst reports. Northland Capmk upgraded shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Finally, Northland Securities raised their price target on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th.

Vitesse Energy Price Performance

Shares of NYSE VTS opened at $23.44 on Monday. Vitesse Energy, Inc. has a twelve month low of $21.83 and a twelve month high of $28.41. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $904.27 million, a PE ratio of 16.05 and a beta of 0.53. The firm has a fifty day simple moving average of $25.97 and a 200 day simple moving average of $25.80.

Vitesse Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be paid a $0.5625 dividend. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 9.60%. The ex-dividend date is Friday, March 21st. Vitesse Energy’s payout ratio is 351.56%.

Insider Activity

In other Vitesse Energy news, CAO Mike Morella sold 8,143 shares of Vitesse Energy stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total value of $217,336.67. Following the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. The trade was a 9.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.70, for a total transaction of $179,263.80. Following the completion of the sale, the vice president now directly owns 63,411 shares in the company, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

About Vitesse Energy

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.