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

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Investors of record on Monday, June 16th will be paid a dividend of 0.5625 per share on Monday, June 30th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date is Monday, June 16th.

Vitesse Energy has a payout ratio of 206.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Vitesse Energy to earn $1.16 per share next year, which means the company may not be able to cover its $2.25 annual dividend with an expected future payout ratio of 194.0%.

Vitesse Energy Stock Up 0.1%

Shares of NYSE:VTS opened at $24.46 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $21.52 and a 200 day simple moving average of $24.20. The firm has a market cap of $944.50 million, a PE ratio of 16.75 and a beta of 0.63. Vitesse Energy has a 12-month low of $18.90 and a 12-month high of $28.41.

Wall Street Analysts Forecast Growth

VTS has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Roth Mkm lifted their price target on shares of Vitesse Energy from $30.50 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Alliance Global Partners initiated coverage on shares of Vitesse Energy in a research note on Wednesday, May 14th. They issued a “buy” rating and a $26.00 price target for the company. Northland Capmk upgraded shares of Vitesse Energy to a “hold” rating in a research note on Tuesday, May 20th. Finally, Evercore ISI reiterated an “in-line” rating and set a $28.00 target price on shares of Vitesse Energy in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Vitesse Energy presently has an average rating of “Hold” and a consensus target price of $26.50.

Institutional Trading of Vitesse Energy

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Vitesse Energy by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock valued at $5,012,000 after purchasing an additional 9,943 shares during the last quarter. Millennium Management LLC boosted its holdings 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 valued at $4,415,000 after acquiring an additional 126,991 shares during the period. Royal Bank of Canada boosted its holdings in shares of Vitesse Energy by 48.3% during the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock valued at $888,000 after acquiring an additional 11,747 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Vitesse Energy by 29.7% during the first quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after acquiring an additional 5,002 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Vitesse Energy by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after acquiring an additional 1,065 shares during the period. 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.