Vitesse Energy (NYSE:VTS) Posts Earnings Results, Beats Expectations By $0.09 EPS

Vitesse Energy (NYSE:VTS - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.09, Zacks reports. Vitesse Energy had a return on equity of 7.25% and a net margin of 18.05%. The business had revenue of $66.17 million for the quarter, compared to analyst estimates of $65.06 million.

Vitesse Energy Stock Up 1.7 %

Shares of VTS traded up $0.37 during trading hours on Friday, reaching $21.53. 273,301 shares of the stock traded hands, compared to its average volume of 213,586. Vitesse Energy has a 52 week low of $18.90 and a 52 week high of $28.41. The company has a market cap of $830.58 million, a price-to-earnings ratio of 14.75 and a beta of 0.67. The stock has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $24.95. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.5625 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.25 annualized dividend and a dividend yield of 10.45%. Vitesse Energy's dividend payout ratio is currently 351.56%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VTS. Roth Mkm increased their target price on Vitesse Energy from $30.50 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Evercore ISI reaffirmed an "in-line" rating and issued a $28.00 price objective on shares of Vitesse Energy in a research note on Wednesday, March 19th. Northland Capmk upgraded shares of Vitesse Energy to a "strong-buy" rating in a report on Thursday, January 16th. Finally, Northland Securities upped their target price on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $30.25.

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.