Vitesse Energy, Inc. (NYSE:VTS) Declares Dividend Increase - $0.53 Per Share

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.525 per share on Friday, June 28th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.72%. The ex-dividend date is Friday, June 14th. This is an increase from Vitesse Energy's previous quarterly dividend of $0.50.

Vitesse Energy has a payout ratio of 104.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vitesse Energy to earn $1.79 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 111.7%.

Vitesse Energy Stock Up 6.7 %

Shares of NYSE:VTS traded up $1.51 during trading on Tuesday, hitting $24.09. 384,627 shares of the company were exchanged, compared to its average volume of 219,136. The firm's 50 day moving average price is $23.22 and its 200-day moving average price is $22.56. Vitesse Energy has a 12-month low of $17.45 and a 12-month high of $27.39. 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 stock has a market capitalization of $709.45 million, a P/E ratio of -31.70 and a beta of 0.19.

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

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.