Vitesse Energy, Inc. (NYSE:VTS) Plans $0.53 Quarterly Dividend

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

Vitesse Energy has a payout ratio of 150.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Down 1.0 %

Shares of Vitesse Energy stock traded down $0.25 during midday trading on Thursday, reaching $24.87. 157,485 shares of the company’s stock traded hands, compared to its average volume of 194,960. Vitesse Energy has a 12 month low of $19.63 and a 12 month high of $26.68. The company has a market cap of $732.55 million, a PE ratio of 28.55 and a beta of 0.23. The stock has a 50 day moving average of $24.89 and a 200-day moving average of $24.44. 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 (NYSE:VTS) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Vitesse Energy had a net margin of 10.78% and a return on equity of 7.94%. The firm had revenue of $66.60 million for the quarter, compared to the consensus estimate of $63.89 million. As a group, equities analysts expect that Vitesse Energy will post 1.4 EPS for the current fiscal year.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, CEO Robert W. Gerrity acquired 10,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of $24.73 per share, with a total value of $247,300.00. Following the transaction, the chief executive officer now directly owns 495,311 shares of the company’s stock, valued at $12,249,041.03. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 15.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.