Vitesse Energy, Inc. (NYSE:VTS) Declares Quarterly Dividend of $0.56

Key Points

• Vitesse Energy, Inc. has declared a quarterly dividend of $0.56 per share, with a significant annualized yield of 9.30%.
• The company's payout ratio stands at 206.4%, indicating that it relies heavily on its balance sheet to cover dividend payments, raising concerns about future sustainability.
• Recent analyst ratings show a mixed outlook for Vitesse Energy, with one downgrade to "sell" and various target prices ranging from $19.00 to $33.00.

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Monday, September 15th will be given a dividend of 0.5625 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Monday, September 15th.

Vitesse Energy has a payout ratio of 206.4% 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 $1.16 per share next year, which means the company may not be able to cover its $2.25 annual dividend with an expected future payout ratio of 194.0%.

Vitesse Energy Stock Down 3.4%

VTS traded down $0.81 during midday trading on Friday, hitting $23.12. The company had a trading volume of 227,285 shares, compared to its average volume of 298,694. Vitesse Energy has a 52 week low of $18.90 and a 52 week high of $28.41. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $892.51 million, a price-to-earnings ratio of 29.31 and a beta of 0.66. The stock's 50 day moving average price is $23.07 and its 200 day moving average price is $23.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SouthState Corp purchased a new position in Vitesse Energy in the first quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in Vitesse Energy in the fourth quarter worth $29,000. Parallel Advisors LLC boosted its position in Vitesse Energy by 74.7% in the second quarter. Parallel Advisors LLC now owns 1,303 shares of the company's stock worth $29,000 after purchasing an additional 557 shares during the last quarter. CWM LLC boosted its position in Vitesse Energy by 138.8% in the second quarter. CWM LLC now owns 1,827 shares of the company's stock worth $40,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Vitesse Energy by 415.7% in the second quarter. Signaturefd LLC now owns 2,393 shares of the company's stock worth $53,000 after purchasing an additional 1,929 shares during the last quarter. Hedge funds and other institutional investors own 51.63% of the company's stock.

About Vitesse Energy

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.