Vitesse Energy (NYSE:VTS) Releases Earnings Results, Beats Estimates By $0.71 EPS

Vitesse Energy (NYSE:VTS) issued its earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71, FiscalAI reports. Vitesse Energy had a positive return on equity of 3.53% and a negative net margin of 7.15%.The business had revenue of $91.01 million during the quarter, compared to the consensus estimate of $77.33 million.

Vitesse Energy Price Performance

Shares of Vitesse Energy stock traded down $0.11 on Monday, reaching $15.49. 431,311 shares of the stock were exchanged, compared to its average volume of 508,574. The firm has a market cap of $646.09 million, a PE ratio of -30.98 and a beta of 0.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50 day moving average is $16.27 and its 200-day moving average is $18.34. Vitesse Energy has a one year low of $15.00 and a one year high of $27.15.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.4375 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.3%. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Analyst Ratings Changes

Several brokerages have recently commented on VTS. Zacks Research cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Northland Securities raised Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Vitesse Energy presently has a consensus rating of “Hold” and an average target price of $19.25.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 40,882 shares of Vitesse Energy stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the acquisition, the director directly owned 108,500 shares of the company’s stock, valued at $1,753,360. This represents a 60.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.94% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in Vitesse Energy during the 1st quarter worth about $54,000. Osaic Holdings Inc. lifted its holdings in shares of Vitesse Energy by 43.5% in 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 increased its holdings in Vitesse Energy by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after acquiring an additional 2,432 shares during the period. Odyssean LLC bought a new position in Vitesse Energy in the 4th quarter valued at $232,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Vitesse Energy by 20.4% in the second quarter. The Manufacturers Life Insurance Company now owns 10,843 shares of the company’s stock worth $240,000 after purchasing an additional 1,840 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy (NYSE: VTS) is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.