Vitesse Energy (NYSE:VTS) Announces Quarterly Earnings Results

Key Points

• Vitesse Energy reported quarterly earnings of $0.60 per share, significantly exceeding the consensus estimate of $0.10 by $0.50.
• The company announced a quarterly dividend of $0.5625 per share, equating to an annualized basis of $2.25 and a dividend yield of 9.6%.
• Vitesse Energy's stock is currently rated as a "Hold" by analysts, with a consensus target price of $26.50 after recent adjustments in ratings by multiple research firms.

Vitesse Energy (NYSE:VTS - Get Free Report) posted its earnings results on Monday. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.50, Zacks reports. The business had revenue of $81.76 million for the quarter, compared to analyst estimates of $69.78 million. Vitesse Energy had a return on equity of 7.25% and a net margin of 15.12%.

Vitesse Energy Price Performance

Shares of VTS stock traded down $0.12 on Friday, hitting $24.52. 47,039 shares of the company's stock were exchanged, compared to its average volume of 305,289. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.73. Vitesse Energy has a 12 month low of $18.90 and a 12 month high of $28.41. The stock has a market cap of $946.62 million, a P/E ratio of 23.13 and a beta of 0.67. The company has a 50 day moving average of $23.42 and a 200 day moving average of $23.47.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Monday, September 15th. Vitesse Energy's dividend payout ratio is currently 212.26%.

Hedge Funds Weigh In On Vitesse Energy

Large investors have recently bought and sold shares of the company. Strs Ohio bought a new position in Vitesse Energy in the first quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Vitesse Energy by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company's stock valued at $376,000 after purchasing an additional 1,065 shares during the last quarter. AQR Capital Management LLC raised its position in Vitesse Energy by 29.7% in the first quarter. AQR Capital Management LLC now owns 21,841 shares of the company's stock valued at $535,000 after purchasing an additional 5,002 shares during the last quarter. Royal Bank of Canada raised its position in Vitesse Energy by 48.3% in the first quarter. Royal Bank of Canada now owns 36,074 shares of the company's stock valued at $888,000 after purchasing an additional 11,747 shares during the last quarter. Finally, Millennium Management LLC raised its position in Vitesse Energy by 241.7% in the first quarter. Millennium Management LLC now owns 179,532 shares of the company's stock valued at $4,415,000 after purchasing an additional 126,991 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Vitesse Energy Company Profile

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.