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

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. Stockholders of record on Monday, September 15th will be paid a dividend of 0.5625 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date is Monday, September 15th.

Vitesse Energy has a payout ratio of 206.4% indicating that 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 3.3%

Shares of Vitesse Energy stock traded down $0.79 during trading on Friday, reaching $23.14. The stock had a trading volume of 388,813 shares, compared to its average volume of 233,099. The company has a market capitalization of $893.44 million, a price-to-earnings ratio of 29.29 and a beta of 0.67. The stock has a fifty day moving average price of $23.11 and a two-hundred day moving average price of $23.51. Vitesse Energy has a 52 week low of $18.90 and a 52 week high of $28.41. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.18.

Analysts Set New Price Targets

A number of analysts have recently commented on VTS shares. Northland Securities lowered Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 price target on the stock. in a report on Tuesday, May 20th. Alliance Global Partners started coverage on Vitesse Energy in a report on Wednesday, May 14th. They issued a "buy" rating and a $26.00 price target on the stock. Northland Capmk upgraded Vitesse Energy to a "hold" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen lowered Vitesse Energy from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $26.50.

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.