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

Key Points

• Vitesse Energy declared a quarterly dividend of $0.4375 per share, payable September 30 to shareholders of record on September 15. The annualized dividend is $1.75 per share, representing an indicated yield of about 11.3%.
• The dividend appears financially strained: Vitesse has a payout ratio of 160.6%, while analysts expect just $0.12 in earnings per share next year, implying a projected payout ratio above 1,400%.
• Director Joseph S. Steinberg purchased 59,118 shares worth roughly $1.0 million, while institutional investors own 51.63% of the company. Shares opened at $15.47, near the stock’s 12-month low of $15.00.

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

Vitesse Energy has a payout ratio of 160.6% indicating that 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 $0.12 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 Stock Up 3.1%

VTS stock 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 firm has a market capitalization of $645.34 million, a PE ratio of -30.94 and a beta of 0.57. The company's 50 day simple moving average is $16.38 and its 200-day simple moving average is $18.39.

Insider Buying and Selling

In related news, Director Joseph S. Steinberg purchased 59,118 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the transaction, the director owned 60,552 shares of the company's stock, valued at approximately $1,029,384. This trade represents a 4,122.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.94% of the company's stock.

Institutional Trading of Vitesse Energy

Several institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Vitesse Energy in the 1st quarter worth $54,000. Whittier Trust Co. of Nevada Inc. increased its stake in Vitesse Energy by 359.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company's stock worth $54,000 after acquiring an additional 2,307 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Vitesse Energy by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company's stock worth $78,000 after purchasing an additional 1,069 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Vitesse Energy by 179.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company's stock valued at $84,000 after purchasing an additional 2,432 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new position in shares of Vitesse Energy in the 4th quarter valued at about $154,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

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.

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