Raymond James Financial Inc. Buys Shares of 22,743 Vitesse Energy, Inc. (NYSE:VTS)

Raymond James Financial Inc. bought a new stake in shares of Vitesse Energy, Inc. (NYSE:VTS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 22,743 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Vitesse Energy during the 3rd quarter valued at approximately $78,000. R Squared Ltd bought a new position in shares of Vitesse Energy during the fourth quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vitesse Energy by 143.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock valued at $150,000 after purchasing an additional 3,679 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Vitesse Energy by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 8,784 shares of the company’s stock valued at $220,000 after purchasing an additional 418 shares during the period. Finally, Verition Fund Management LLC bought a new position in Vitesse Energy in the 3rd quarter worth about $288,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VTS has been the subject of several analyst reports. Roth Mkm boosted their price objective on Vitesse Energy from $30.50 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. Evercore ISI reiterated an “in-line” rating and set a $28.00 price target on shares of Vitesse Energy in a research report on Wednesday, March 19th. Northland Capmk upgraded shares of Vitesse Energy to a “strong-buy” rating in a research note on Thursday, January 16th. Northland Securities increased their target price on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $29.00 in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $30.25.

Vitesse Energy Stock Down 2.2 %

VTS stock opened at $21.21 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $818.24 million, a PE ratio of 14.53 and a beta of 0.56. Vitesse Energy, Inc. has a 12 month low of $20.41 and a 12 month high of $28.41. The firm has a 50 day simple moving average of $25.10 and a 200 day simple moving average of $25.72.

Vitesse Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 21st were issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 10.61%. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, March 21st. Vitesse Energy’s dividend payout ratio is currently 351.56%.

Insider Activity at Vitesse Energy

In other news, CAO Mike Morella sold 8,143 shares of the business’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 sale, the chief accounting officer now owns 81,615 shares in the company, valued at $2,178,304.35. The trade was a 9.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Sabol sold 6,714 shares of the company’s stock in a transaction 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 directly owns 63,411 shares in the company, valued at $1,693,073.70. The trade was a 9.57 % 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.

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.