Vitesse Energy (NYSE:VTS) Sees Large Volume Increase Following Insider Buying Activity

Vitesse Energy, Inc. (NYSE:VTS) saw unusually-strong trading volume on Tuesday following insider buying activity. Approximately 68,011 shares were traded during trading, a decline of 66% from the previous session’s volume of 198,286 shares.The stock last traded at $24.72 and had previously closed at $23.88.

Specifically, CEO Robert W. Gerrity purchased 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $24.73 per share, for a total transaction of $247,300.00. Following the completion of the transaction, the chief executive officer now owns 495,311 shares in the company, valued at $12,249,041.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered their price objective on Vitesse Energy from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Vitesse Energy Price Performance

The firm has a market cap of $720.76 million, a P/E ratio of 29.13 and a beta of 0.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $24.82 and its two-hundred day moving average is $24.13.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $66.60 million for the quarter, compared to the consensus estimate of $63.89 million. Vitesse Energy had a return on equity of 7.94% and a net margin of 10.78%. Sell-side analysts anticipate that Vitesse Energy, Inc. will post 1.4 EPS for the current fiscal year.

Vitesse Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date is Monday, September 16th. Vitesse Energy’s dividend payout ratio is presently 250.00%.

Hedge Funds Weigh In On Vitesse Energy

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Vitesse Energy by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 9,689 shares of the company’s stock valued at $230,000 after buying an additional 492 shares in the last quarter. Inlet Private Wealth LLC boosted its stake in shares of Vitesse Energy by 0.9% in the 2nd quarter. Inlet Private Wealth LLC now owns 56,251 shares of the company’s stock valued at $1,333,000 after purchasing an additional 500 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Vitesse Energy by 0.3% during the 1st quarter. Ancora Advisors LLC now owns 177,952 shares of the company’s stock valued at $4,223,000 after purchasing an additional 578 shares during the last quarter. Principal Financial Group Inc. increased its position in Vitesse Energy by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,113 shares of the company’s stock worth $263,000 after purchasing an additional 627 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Vitesse Energy by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,015 shares of the company’s stock valued at $547,000 after purchasing an additional 993 shares during the last quarter. Institutional investors and hedge funds own 51.63% 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.