Alliance Global Partners Upgrades Vitesse Energy (NYSE:VTS) to “Buy”

Vitesse Energy (NYSE:VTS) was upgraded by research analysts at Alliance Global Partners from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $29.00 price objective on the stock, up from their prior price objective of $26.00. Alliance Global Partners’ target price suggests a potential upside of 18.37% from the company’s previous close.

Vitesse Energy Price Performance

Shares of NYSE:VTS opened at $24.50 on Tuesday. Vitesse Energy has a fifty-two week low of $19.63 and a fifty-two week high of $28.41. The company’s 50-day moving average is $26.52 and its 200 day moving average is $25.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $723.83 million, a P/E ratio of 16.78 and a beta of 0.35.

Institutional Investors Weigh In On Vitesse Energy

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Vitesse Energy in the second quarter worth $281,000. Nisa Investment Advisors LLC raised its stake in Vitesse Energy by 103.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,414 shares of the company’s stock valued at $413,000 after acquiring an additional 8,853 shares during the period. Bank of New York Mellon Corp lifted its holdings in Vitesse Energy by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 277,465 shares of the company’s stock valued at $6,576,000 after purchasing an additional 7,513 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Vitesse Energy by 6.0% during the second quarter. Principal Financial Group Inc. now owns 11,113 shares of the company’s stock valued at $263,000 after purchasing an additional 627 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Vitesse Energy in the second quarter worth about $3,430,000. Institutional investors 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.