Vitesse Energy (NYSE:VTS) Trading Up 5.8% Following Dividend Announcement

Vitesse Energy, Inc. (NYSE:VTS)’s share price shot up 5.8% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $23.92 and last traded at $23.90. 136,710 shares changed hands during trading, a decline of 37% from the average session volume of 216,125 shares. The stock had previously closed at $22.58.

The newly announced dividend which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.10 dividend on an annualized basis and a yield of 8.72%. This is a positive change from Vitesse Energy’s previous quarterly dividend of $0.50. Vitesse Energy’s dividend payout ratio (DPR) is presently -263.16%.

Vitesse Energy Price Performance

The stock’s fifty day moving average price is $23.19 and its 200-day moving average price is $22.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $709.45 million, a PE ratio of -31.70 and a beta of 0.19.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings data on Monday, February 26th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $69.30 million during the quarter, compared to analyst estimates of $63.83 million. Vitesse Energy had a negative net margin of 9.22% and a negative return on equity of 2.89%. As a group, equities analysts expect that Vitesse Energy, Inc. will post 1.27 EPS for the current fiscal year.

Institutional Trading of Vitesse Energy

Several large investors have recently added to or reduced their stakes in VTS. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Vitesse Energy during the 3rd quarter valued at approximately $233,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Vitesse Energy during the 3rd quarter worth about $235,000. Punch & Associates Investment Management Inc. raised its holdings in Vitesse Energy by 4.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 498,619 shares of the company’s stock valued at $11,413,000 after buying an additional 22,957 shares during the period. Inlet Private Wealth LLC lifted its position in Vitesse Energy by 286.2% in the third quarter. Inlet Private Wealth LLC now owns 46,151 shares of the company’s stock valued at $1,056,000 after buying an additional 34,201 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Vitesse Energy by 24.5% during the third quarter. Panagora Asset Management Inc. now owns 85,728 shares of the company’s stock worth $1,962,000 after buying an additional 16,868 shares during the period. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

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.