Jefferies initiated coverage of Vitesse with a Buy rating and $23 price target. The non-operated E&P operates like it is private, "scrutinizing every cost," with a commitment to returning the majority of its free cash flow to shareholders through a dividend and also has about a 35 year inventory life with low financial leverage, the analyst tells investors. Vitesse is positioned to return cash in normal to high-priced periods and its management track record and strategy clarity are positives, the analyst added.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on VTS:
- Seeking at Least 11% Dividend Yield? Analysts Suggest 2 Dividend Stocks to Buy
- Vitesse initiated with an Outperform at Evercore ISI
- Vitesse reports FY22 EPS 26c vs. (2c) y/y
- Analysts Remain Bullish on Energy Stocks for 2023 — See 2 Under-the-Radar Names Surging Over 40%
- Vitesse initiated with an Outperform at Northland