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

Vitesse Energy, Inc. (NYSE:VTS) traded up 5.8% during trading on Tuesday after the company announced a dividend. The stock traded as high as $23.92 and last traded at $23.90. 136,710 shares changed hands during mid-day 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 given a dividend of $0.525 per share. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 8.72%. The ex-dividend date of this dividend is Friday, June 14th. Vitesse Energy’s payout ratio is presently -263.16%.

Vitesse Energy Stock Performance

The company’s 50-day moving average price is $23.22 and its 200 day moving average price is $22.56. The stock has a market capitalization of $709.45 million, a PE ratio of -31.70 and a beta of 0.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.97 and a current ratio of 0.97.

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

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in Vitesse Energy during the 3rd quarter valued at approximately $233,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Vitesse Energy in the 3rd quarter worth about $235,000. Inlet Private Wealth LLC boosted its stake in Vitesse Energy by 286.2% in the 3rd quarter. Inlet Private Wealth LLC now owns 46,151 shares of the company’s stock worth $1,056,000 after purchasing an additional 34,201 shares in the last quarter. Panagora Asset Management Inc. grew its position in Vitesse Energy by 24.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 85,728 shares of the company’s stock valued at $1,962,000 after purchasing an additional 16,868 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Vitesse Energy by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,953 shares of the company’s stock valued at $663,000 after purchasing an additional 537 shares in the last quarter. 51.63% of the stock is 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.