Short Interest in Vitesse Energy, Inc. (NYSE:VTS) Declines By 24.6%

Vitesse Energy, Inc. (NYSE:VTS) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,140,000 shares, a decline of 24.6% from the February 28th total of 2,840,000 shares. Based on an average trading volume of 230,200 shares, the short-interest ratio is currently 9.3 days. Approximately 8.7% of the company’s shares are short sold.

Vitesse Energy Trading Up 0.1 %

Shares of VTS opened at $24.74 on Friday. Vitesse Energy has a 1-year low of $21.83 and a 1-year high of $28.41. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $25.48 and its 200-day moving average price is $25.74. The firm has a market capitalization of $954.34 million, a price-to-earnings ratio of 16.94 and a beta of 0.53.

Vitesse Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be given a $0.5625 dividend. The ex-dividend date is Friday, March 21st. This represents a $2.25 annualized dividend and a dividend yield of 9.10%. This is a positive change from Vitesse Energy’s previous quarterly dividend of $0.53. Vitesse Energy’s dividend payout ratio is currently 351.56%.

Insider Activity

In other news, VP Michael Sabol sold 6,714 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total value of $179,263.80. Following the transaction, the vice president now owns 63,411 shares in the company, valued at approximately $1,693,073.70. This trade represents a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mike Morella sold 8,143 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total transaction of $217,336.67. Following the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at $2,178,304.35. This represents a 9.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vitesse Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Vitesse Energy in the 4th quarter worth about $29,000. Quest Partners LLC purchased a new stake in Vitesse Energy in the third quarter worth about $34,000. R Squared Ltd bought a new position in shares of Vitesse Energy during the fourth quarter valued at approximately $79,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Vitesse Energy during the third quarter valued at approximately $78,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Vitesse Energy in the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VTS. Evercore ISI reaffirmed an “in-line” rating and set a $28.00 price objective on shares of Vitesse Energy in a research note on Wednesday, March 19th. Northland Securities boosted their price target on Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Northland Capmk upgraded Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th.

Vitesse Energy Company Profile

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.