Vitesse Energy (NYSE:VTS) Releases Earnings Results, Misses Expectations By $0.13 EPS

Vitesse Energy (NYSE:VTS) announced its quarterly earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13), Zacks reports. Vitesse Energy had a net margin of 15.12% and a return on equity of 7.25%.

Vitesse Energy Stock Performance

VTS stock traded down $0.34 during midday trading on Monday, reaching $21.42. 523,514 shares of the company were exchanged, compared to its average volume of 314,184. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average price of $23.83 and a two-hundred day moving average price of $23.25. Vitesse Energy has a one year low of $18.90 and a one year high of $28.41. The firm has a market capitalization of $826.83 million, a price-to-earnings ratio of 20.20 and a beta of 0.60.

Vitesse Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date of this dividend is Monday, December 15th. Vitesse Energy’s payout ratio is 212.26%.

Wall Street Analysts Forecast Growth

VTS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vitesse Energy in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Evercore ISI lowered their price objective on shares of Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Finally, Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.50.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Vitesse Energy during the first quarter worth $54,000. Osaic Holdings Inc. lifted its holdings in shares of Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after buying an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after buying an additional 2,432 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Vitesse Energy by 20.4% during the second quarter. The Manufacturers Life Insurance Company now owns 10,843 shares of the company’s stock worth $240,000 after buying an additional 1,840 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Vitesse Energy by 67.6% during the second quarter. New York State Common Retirement Fund now owns 10,911 shares of the company’s stock worth $241,000 after buying an additional 4,400 shares in the last quarter. Institutional investors and hedge funds 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.