CIBC Private Wealth Group LLC Acquires 2,841 Shares of Vitesse Energy, Inc. (NYSE:VTS)

CIBC Private Wealth Group LLC boosted its stake in shares of Vitesse Energy, Inc. (NYSE:VTS) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,872 shares of the company’s stock after purchasing an additional 2,841 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.10% of Vitesse Energy worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vitesse Energy during the 3rd quarter worth about $78,000. R Squared Ltd bought a new stake in shares of Vitesse Energy during the fourth quarter worth approximately $79,000. KLP Kapitalforvaltning AS acquired a new position in shares of Vitesse Energy in the fourth quarter valued at approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vitesse Energy by 143.7% during the third 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 during the period. Finally, AlphaQuest LLC lifted its holdings in Vitesse Energy by 415.4% during the 4th quarter. AlphaQuest LLC now owns 7,375 shares of the company’s stock worth $184,000 after purchasing an additional 5,944 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Vitesse Energy Price Performance

Vitesse Energy stock opened at $21.68 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. Vitesse Energy, Inc. has a 52 week low of $21.31 and a 52 week high of $28.41. The stock has a market capitalization of $836.37 million, a P/E ratio of 14.85 and a beta of 0.53. The stock has a fifty day moving average of $25.20 and a 200-day moving average of $25.73.

Vitesse Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 21st were paid a dividend of $0.5625 per share. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, March 21st. This represents a $2.25 annualized dividend and a yield of 10.38%. Vitesse Energy’s payout ratio is presently 351.56%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VTS shares. Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th. Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Roth Mkm raised their price target on Vitesse Energy from $30.50 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI reaffirmed an “in-line” rating and issued a $28.00 price target on shares of Vitesse Energy in a research note on Wednesday, March 19th. Finally, Northland Securities increased their price objective on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $30.25.

Insider Transactions at Vitesse Energy

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

Vitesse Energy 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.