Alliance Global Partners initiated coverage of Vitesse Energy (VTS) with a Buy rating and $27 price target, which implies a total shareholder return potential of about 29% when including the company’s current annual dividend yield of 8.9%. The Williston Basin focused oil and gas E&P spun out of Jefferies Financial (JEF) in early 2023 has aggregated non-operated acreage for over a decade and came public with a healthy drilling inventory, strong balance sheet and “juicy dividend” while management’s mandate is to “keep it simple and don’t mess up the platform they have built,” the analyst tells investors.
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