Vitesse Energy, Inc. to Issue Quarterly Dividend of $0.53 (NYSE:VTS)

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.525 per share on Tuesday, December 31st. This represents a $2.10 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend is Monday, December 16th.

Vitesse Energy has a payout ratio of 150.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Vitesse Energy to earn $1.85 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 113.5%.

Vitesse Energy Price Performance

Shares of NYSE VTS opened at $24.87 on Friday. The stock has a market cap of $732.42 million, a price-to-earnings ratio of 28.26 and a beta of 0.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 0.83. Vitesse Energy has a fifty-two week low of $19.63 and a fifty-two week high of $26.68. The firm’s 50-day simple moving average is $24.89 and its 200 day simple moving average is $24.45.

Vitesse Energy (NYSE:VTS) last posted its earnings results on Monday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Vitesse Energy had a return on equity of 7.94% and a net margin of 10.78%. The firm had revenue of $66.60 million during the quarter, compared to the consensus estimate of $63.89 million. As a group, research analysts anticipate that Vitesse Energy will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut their target price on Vitesse Energy from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Insider Activity

In related news, CEO Robert W. Gerrity purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $24.73 per share, with a total value of $247,300.00. Following the acquisition, the chief executive officer now owns 495,311 shares of the company’s stock, valued at $12,249,041.03. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.80% of the company’s stock.

Vitesse Energy Company 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.