Vitesse Energy (VTS)
Buys minority stakes and royalty rights in Bakken oil and gas wells operated by others.
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Acquires minority working interests and royalty interests in oil and gas wells operated by outside companies across the Bakken-heavy Williston Basin, funding drilling costs in exchange for a share of production without running any rigs directly. A large recurring dividend, funded by oil-driven free cash flow, anchors the investor pitch.
Buys minority working interests and royalty interests in oil and gas wells drilled by outside operators rather than running rigs itself, funding a share of drilling costs in exchange for a share of production.
Acreage concentrates in the Bakken formation across North Dakota and Montana's Williston Basin, plus a smaller Central Rockies position in Colorado and Wyoming added through an all-stock acquisition of a Canadian producer.
The model partners with more than 30 experienced operators, spreading well-selection and drilling-pace decisions across the portfolio. Public since a 2023 spin-off from Jefferies Financial Group, with roots as a founder-funded capital pool from 2010, a large recurring cash dividend anchors the investor story.
Oil drives most of production revenue, tying results closely to crude prices, and operations sit under federal oil-and-gas rules alongside North Dakota, Montana, and Colorado regulation.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Northland Securities | Target | Target: $18.50 | Target: $20.50 |
| Aug 4, 2026 | Industrial Alliance Securities | Target | Target: $29 | Target: $22.50 |
| Jul 23, 2026 | Northland Securities | Target | Target: $20 | Target: $18.50 |
| May 6, 2026 | Northland Securities | Target | Target: — | Target: $20 |
| Dec 18, 2024 | Alliance Global Partners | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $884.0K · Total debt $165.1M · Total assets $923.6M · Shareholders' equity $623.9M
- Revenue
- $91.0M
- Operating income
- $20.9M
- Net income
- $33.1M
HistoryDividendAnnual yield
| Institutions | 66.81% | 28.13M shares | |
|---|---|---|---|
| 240 holders · as of Jun 30, 2026 | |||
| Insiders | 17.47% | 7.36M shares | |
| 14 holders · as of Aug 10, 2026 | |||
| Other | 15.72% | 6.62M shares | |
| remainder | |||
42.10M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Joseph S. Steinberg1Insiderdirector | 7.07% | 2.86M | filed Jun 17, 2026 |
First Reserve GP Xiii LtdInstitution | 6.91% | 2.91M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.17% | 2.60M | as of Jun 30, 2026 |
Kimmeridge Energy Management Company, LLCInstitution | 4.60% | 1.94M | as of Jun 30, 2026 |
Mirae Asset Global Etfs Holdings Ltd.Institution | 4.31% | 1.81M | as of Jun 30, 2026 |
- Joseph S. Steinberg's transaction reports restate only vehicles that traded; the 2025 ownership statement (2.86M) plus the 113.0K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Joseph S. Steinberg | director | +40,882 | $16.16 |
| May 28, 2026 | Joseph S. Steinberg | director | +59,118 | $17.00 |
| Mar 30, 2026 | James P. Henderson | officer: Chief Financial Officer | +5,000 | $18.71 |
| Mar 31, 2026 | James P. Henderson | officer: Chief Financial Officer | +5,000 | $18.67 |
| Mar 31, 2026 | Brian Cree | officer: President & Interim CEO | −50,000 | $18.51 |
- Northern Oil and Gas
Publicly listed non-op peer originating in the Williston Basin.
- Chord Energy
Williston Basin's largest operator and pure-play Bakken dividend alternative.
- Kimbell Royalty Partners
Multi-basin mineral & royalty LP with direct Bakken royalty overlap.
- Devon Energy
Multi-basin operator whose 2024 Grayson Mill deal tripled Williston footprint.
- Granite Ridge Resources
Six-basin non-op investor with Permian-heavy reserves and modest Bakken.
- Viper Energy
Permian-heavy royalty aggregator, largest US mineral/royalty vehicle post-Sitio.
- Black Stone Minerals
Multi-basin mineral & royalty LP across 41 states, Haynesville/Permian-led.
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vitesse Energy | $16.85 | −0.06% | $710.7M | — | 103.2 | 2.5 | +11.3% |
| Northern Oil and Gas | $22.96 | +0.68% | $2.59B | — | 5.8 | 1.2 | +5.4% |
| Chord Energy | $136.55 | +0.46% | $7.85B | 9.3 | 8.2 | 1.2 | +84.0% |
| Kimbell Royalty Partners | $14.29 | 0.00% | $1.42B | 22.1 | 13.2 | 3.9 | +30.0% |
| Devon Energy | $47.03 | +0.18% | $52.35B | 11.3 | 9.3 | 2.7 | +83.2% |
| Granite Ridge Resources | $4.59 | +1.10% | $612.0M | — | 6.6 | 1.2 | +36.7% |
| Viper Energy | $40.82 | +0.10% | $15.02B | 320.9 | 16.5 | 7.6 | +128.0% |
| Black Stone Minerals | $14.76 | −0.14% | $3.16B | 12.3 | 14.2 | 6.5 | +39.6% |
| Median | 12.3 | 9.3 | 2.7 | +39.6% |