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

Vitesse Energy, Inc. (NYSE:VTS) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 15th will be given a dividend of 0.4375 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Vitesse Energy has a 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. Equities research analysts expect Vitesse Energy to earn $0.12 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 1,458.3%.

Vitesse Energy Trading Up 3.1%

Shares of VTS opened at $15.47 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. Vitesse Energy has a 12 month low of $15.00 and a 12 month high of $27.15. The stock has a market cap of $645.34 million, a PE ratio of -30.94 and a beta of 0.57. The stock’s 50-day moving average is $16.38 and its two-hundred day moving average is $18.39.

Insiders Place Their Bets

In other Vitesse Energy news, Director Joseph S. Steinberg bought 40,882 shares of the business’s stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $16.16 per share, with a total value of $660,653.12. Following the completion of the acquisition, the director directly owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. The trade was a 60.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VTS. Norris Financial Group LLC bought a new position in shares of Vitesse Energy during the first quarter worth about $1,394,000. Bank of America Corp DE boosted its stake in Vitesse Energy by 162.3% during the 1st quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock valued at $2,547,000 after purchasing an additional 86,777 shares during the period. Quantinno Capital Management LP boosted its stake in Vitesse Energy by 78.9% during the 1st quarter. Quantinno Capital Management LP now owns 35,294 shares of the company’s stock valued at $641,000 after purchasing an additional 15,562 shares during the period. Gabelli Funds LLC grew its position in Vitesse Energy by 58.6% in the 1st quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock worth $4,990,000 after purchasing an additional 101,506 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Vitesse Energy in the first quarter valued at approximately $188,000. 51.63% of the stock is currently owned by institutional investors.

About Vitesse Energy

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.