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

Vitesse Energy, Inc. (NYSE:VTS) 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.

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

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.