Vitesse Energy, Inc. (NYSE:VTS) Plans Dividend Increase – $0.56 Per Share

Vitesse Energy, Inc. (NYSE:VTSGet Free Report) declared a quarterly dividend on Wednesday, March 12th, Wall Street Journal reports. Stockholders of record on Friday, March 21st will be paid a dividend of 0.5625 per share on Monday, March 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 9.12%. The ex-dividend date is Friday, March 21st. This is a 7.1% increase from Vitesse Energy’s previous quarterly dividend of $0.53.

Vitesse Energy has a dividend payout ratio of 152.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vitesse Energy to earn $1.16 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 181.0%.

Vitesse Energy Stock Performance

Shares of VTS stock opened at $24.66 on Thursday. The business’s fifty day simple moving average is $26.05 and its 200-day simple moving average is $25.82. The company has a market cap of $749.54 million, a PE ratio of 16.89 and a beta of 0.53. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. Vitesse Energy has a 12-month low of $21.83 and a 12-month high of $28.41.

Analyst Ratings Changes

Several equities research analysts have commented on VTS shares. Northland Securities upped their price target on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Northland Capmk upgraded shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $26.00 to $29.00 in a research report on Tuesday, December 17th.

Check Out Our Latest Research Report on Vitesse Energy

Insider Buying and Selling at Vitesse Energy

In other Vitesse Energy news, CAO Mike Morella sold 8,143 shares of Vitesse Energy stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total value of $217,336.67. Following the transaction, the chief accounting officer now directly owns 81,615 shares in the company, valued at approximately $2,178,304.35. The trade was a 9.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total transaction of $179,263.80. Following the completion of the transaction, the vice president now owns 63,411 shares in the company, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Vitesse Energy Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Vitesse Energy (NYSE:VTS)

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