Vitesse Energy, Inc. (NYSE:VTS) to Issue Dividend Increase – $0.53 Per Share

Vitesse Energy, Inc. (NYSE:VTS) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.525 per share on Friday, June 28th. This represents a $2.10 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.50.

Vitesse Energy has a dividend payout ratio of 104.7% meaning 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 $1.79 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 111.7%.

Vitesse Energy Trading Up 1.0 %

VTS stock traded up $0.25 during midday trading on Wednesday, hitting $24.34. 28,053 shares of the company’s stock were exchanged, compared to its average volume of 216,862. The stock’s fifty day moving average price is $23.22 and its 200-day moving average price is $22.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $716.81 million, a PE ratio of -32.03 and a beta of 0.19. Vitesse Energy has a one year low of $17.45 and a one year high of $27.39.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Vitesse Energy had a negative net margin of 9.22% and a negative return on equity of 2.89%. The company had revenue of $69.30 million during the quarter, compared to the consensus estimate of $63.83 million. Research analysts predict that Vitesse Energy will post 1.27 earnings per share for the current fiscal year.

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.