Vitesse Energy, Inc. (NYSE:VTS) Announces Quarterly Dividend of $0.56

Vitesse Energy, Inc. (NYSE:VTS) declared a quarterly dividend on Wednesday, March 12th, Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.5625 per share on Monday, March 31st. This represents a $2.25 annualized dividend and a yield of 9.12%. The ex-dividend date is Friday, March 21st. This is a 7.1% increase from Vitesse Energy’s previous quarterly dividend of $0.53.

Vitesse Energy has a payout ratio of 152.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Vitesse Energy to earn $1.16 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 181.0%.

Vitesse Energy Price Performance

NYSE VTS opened at $24.66 on Thursday. The business’s fifty day moving average price is $26.05 and its 200-day moving average price is $25.82. The stock has a market capitalization of $749.54 million, a price-to-earnings ratio of 16.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. Vitesse Energy has a 1-year low of $21.83 and a 1-year high of $28.41.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VTS. Northland Capmk upgraded Vitesse Energy to a “strong-buy” rating in a research note on Thursday, January 16th. Alliance Global Partners upgraded Vitesse Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Finally, Northland Securities raised their price objective on Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th.

Insider Buying and Selling at Vitesse Energy

In related news, VP Michael Sabol sold 6,714 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $26.70, for a total value of $179,263.80. Following the completion of the sale, the vice president now owns 63,411 shares in the company, valued at approximately $1,693,073.70. The trade was a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mike Morella sold 8,143 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total value of $217,336.67. Following the completion of the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at $2,178,304.35. The trade was a 9.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.80% 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.