Vitesse Energy (NYSE:VTS) Shares Gap Down on Disappointing Earnings

Vitesse Energy, Inc. (NYSE:VTS)’s share price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $17.24, but opened at $16.37. Vitesse Energy shares last traded at $16.1020, with a volume of 112,909 shares traded.

The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $82.95 million for the quarter, compared to analyst estimates of $76.97 million. Vitesse Energy had a positive return on equity of 0.27% and a negative net margin of 15.43%.

Vitesse Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.75 dividend on an annualized basis and a yield of 11.7%. Vitesse Energy’s dividend payout ratio (DPR) is -530.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VTS. Northland Securities set a $20.50 price target on shares of Vitesse Energy in a research note on Thursday, September 17th. Weiss Ratings cut shares of Vitesse Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a report on Thursday, September 17th. Zacks Research raised shares of Vitesse Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Alliance Global Partners restated a “buy” rating on shares of Vitesse Energy in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.50.

Institutional Trading of Vitesse Energy

Several institutional investors and hedge funds have recently made changes to their positions in VTS. Mraz Amerine & Associates Inc. boosted its stake in Vitesse Energy by 1.7% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 165,002 shares of the company’s stock worth $2,756,000 after buying an additional 2,796 shares during the last quarter. State of Wyoming purchased a new stake in Vitesse Energy in the 3rd quarter valued at about $725,000. Signaturefd LLC increased its stake in shares of Vitesse Energy by 15.4% during the 3rd quarter. Signaturefd LLC now owns 4,109 shares of the company’s stock valued at $69,000 after acquiring an additional 548 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Vitesse Energy by 150.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock valued at $56,000 after acquiring an additional 2,002 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Vitesse Energy by 458.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,877 shares of the company’s stock valued at $31,000 after acquiring an additional 1,541 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Vitesse Energy Stock Performance

The firm has a market capitalization of $632.83 million, a PE ratio of -12.95 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.06 and a current ratio of 0.65. The company’s fifty day moving average price is $17.48 and its two-hundred day moving average price is $17.94.

Vitesse Energy Company Profile

Vitesse Energy, Inc is an independent energy company focused on owning non-operated interests in oil and natural gas wells. Rather than serving as the primary operator, Vitesse invests alongside exploration and production companies, allowing it to participate in well production while relying on operating partners to manage drilling and field activities.

The company’s portfolio is weighted toward oil-producing assets in the Williston Basin, including the Bakken and Three Forks formations in North Dakota and Montana.