Vitesse Energy (NYSE:VTS) Issues Quarterly Earnings Results

Key Points

• Vitesse Energy exceeded quarterly expectations, reporting earnings of $0.77 per share versus the $0.06 consensus estimate. Revenue reached $91.01 million, above analysts’ forecast of $77.33 million.
• The company declared a quarterly dividend of $0.4375 per share, implying an annualized payout of $1.75 and an 11.3% yield.
• Shares fell 0.7% to $15.49, while analyst sentiment remained mixed: the stock carries an average “Hold” rating and a $19.25 consensus price target.

Vitesse Energy (NYSE:VTS - Get Free Report) issued its earnings results on Monday. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.71, FiscalAI reports. Vitesse Energy had a positive return on equity of 3.53% and a negative net margin of 7.15%.The business had revenue of $91.01 million during the quarter, compared to analyst estimates of $77.33 million.

Vitesse Energy Stock Down 0.7%

Shares of NYSE:VTS traded down $0.11 during trading hours on Monday, reaching $15.49. The stock had a trading volume of 428,967 shares, compared to its average volume of 508,164. Vitesse Energy has a 1 year low of $15.00 and a 1 year high of $27.15. The firm's 50 day moving average is $16.27 and its 200-day moving average is $18.34. The stock has a market capitalization of $646.09 million, a price-to-earnings ratio of -30.98 and a beta of 0.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56.

Vitesse Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 11.3%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy's payout ratio is -350.00%.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg bought 59,118 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the acquisition, the director directly owned 60,552 shares of the company's stock, valued at $1,029,384. This represents a 4,122.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.94% of the company's stock.

Institutional Trading of Vitesse Energy

A number of institutional investors have recently bought and sold shares of VTS. Royal Bank of Canada increased its stake in Vitesse Energy by 48.3% during the first quarter. Royal Bank of Canada now owns 36,074 shares of the company's stock worth $888,000 after acquiring an additional 11,747 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Vitesse Energy by 29.7% during the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company's stock valued at $535,000 after buying an additional 5,002 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Vitesse Energy by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company's stock valued at $376,000 after buying an additional 1,065 shares during the last quarter. Millennium Management LLC grew its position in shares of Vitesse Energy by 241.7% during the first quarter. Millennium Management LLC now owns 179,532 shares of the company's stock worth $4,415,000 after buying an additional 126,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Vitesse Energy by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company's stock worth $5,012,000 after buying an additional 9,943 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on VTS shares. Weiss Ratings downgraded Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Northland Securities raised shares of Vitesse Energy from a "market perform" rating to an "outperform" rating and set a $18.50 price target for the company in a research report on Thursday, July 23rd. Finally, Zacks Research cut shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.