Vitesse Energy (NYSE:VTS) Issues Earnings Results

Key Points

• Vitesse reported Q results with EPS $0.00, missing the $0.01 consensus by $0.01, while revenue beat at $67.41 million versus a $66.71 million estimate.
• The company declared a quarterly dividend of $0.4375 (annualized $1.75) implying a 9.4% yield, but the payout ratio is an elevated 277.78%, raising sustainability concerns.
• Shares dipped to $18.68 after the report; Vitesse has a market cap of $778.93M and a P/E of 29.56, with a consensus analyst rating of "Hold" (average target $21.67) amid mixed notes including a recent downgrade to "strong sell."

Vitesse Energy (NYSE:VTS - Get Free Report) released its quarterly earnings data on Monday. The company reported $0.00 EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.01), reports. Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%.The company had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.71 million.

Vitesse Energy Price Performance

VTS stock traded down $0.41 during midday trading on Tuesday, reaching $18.68. The company had a trading volume of 323,194 shares, compared to its average volume of 498,534. The company has a market capitalization of $778.93 million, a price-to-earnings ratio of 29.56 and a beta of 0.62. The stock has a 50 day moving average price of $19.06 and a 200-day moving average price of $20.18. Vitesse Energy has a 1-year low of $17.22 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 1.02.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy's payout ratio is 277.78%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VTS. Strs Ohio acquired a new position in Vitesse Energy during the first quarter worth about $54,000. Osaic Holdings Inc. raised its stake in Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company's stock worth $78,000 after acquiring an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company's stock worth $84,000 after acquiring an additional 2,432 shares in the last quarter. Odyssean LLC acquired a new position in Vitesse Energy during the fourth quarter worth about $232,000. Finally, The Manufacturers Life Insurance Company raised its stake in Vitesse Energy by 20.4% during the second quarter. The Manufacturers Life Insurance Company now owns 10,843 shares of the company's stock worth $240,000 after acquiring an additional 1,840 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VTS. Wall Street Zen cut shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Vitesse Energy in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $21.67.

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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