Vitesse Energy, Inc. (NYSE:VTS) Announces $0.44 Quarterly Dividend

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Thursday, April 30th. Investors of record on Monday, June 15th will be given a dividend of 0.4375 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Monday, June 15th.

Vitesse Energy has a dividend payout ratio of 160.6% 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 $0.29 per share next year, which means the company may not be able to cover its $1.75 annual dividend with an expected future payout ratio of 603.4%.

Vitesse Energy Price Performance

Vitesse Energy stock traded down $0.46 during midday trading on Friday, reaching $18.30. 76,894 shares of the stock were exchanged, compared to its average volume of 493,355. The company’s fifty day moving average is $19.06 and its 200-day moving average is $20.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $763.33 million, a PE ratio of 29.02 and a beta of 0.69. Vitesse Energy has a 52 week low of $17.22 and a 52 week high of $27.15.

Vitesse Energy (NYSE:VTS) last posted its earnings results on Monday, March 2nd. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). The firm had revenue of $58.62 million for the quarter, compared to the consensus estimate of $67.10 million. Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%. On average, sell-side analysts forecast that Vitesse Energy will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on VTS. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a research report on Friday, March 27th. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.67.

Vitesse Energy Company Profile

Vitesse Energy (NYSE: VTS) is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.