Vitesse Energy (NYSE:VTS) Trading Up 5.8% Following Dividend Announcement

Vitesse Energy, Inc. (NYSE:VTS) shares traded up 5.8% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $23.92 and last traded at $23.90. 136,710 shares changed hands during trading, a decline of 37% from the average session volume of 216,125 shares. The stock had previously closed at $22.58.

The newly announced dividend which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 8.72%. Vitesse Energy’s payout ratio is currently -263.16%.

Vitesse Energy Stock Performance

The business’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $22.57. The company has a market capitalization of $709.45 million, a P/E ratio of -31.70 and a beta of 0.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.97 and a current ratio of 0.97.

Vitesse Energy (NYSE:VTS) last issued its earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Vitesse Energy had a negative return on equity of 2.89% and a negative net margin of 9.22%. The firm had revenue of $69.30 million during the quarter, compared to the consensus estimate of $63.83 million. As a group, equities analysts anticipate that Vitesse Energy, Inc. will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vitesse Energy

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Vitesse Energy by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,449,798 shares of the company’s stock worth $56,076,000 after buying an additional 62,599 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Vitesse Energy by 4.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 498,619 shares of the company’s stock worth $11,413,000 after acquiring an additional 22,957 shares during the last quarter. Cove Street Capital LLC raised its position in Vitesse Energy by 26.3% during the first quarter. Cove Street Capital LLC now owns 351,365 shares of the company’s stock valued at $8,338,000 after purchasing an additional 73,102 shares during the period. GoodHaven Capital Management LLC lifted its stake in shares of Vitesse Energy by 15.5% in the 4th quarter. GoodHaven Capital Management LLC now owns 306,841 shares of the company’s stock valued at $6,717,000 after purchasing an additional 41,206 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Vitesse Energy in the 4th quarter worth approximately $3,266,000. Institutional investors own 51.63% of the company’s stock.

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.