Vitesse Energy (NYSE:VTS) Announces Quarterly Earnings Results

Vitesse Energy (NYSE:VTS) issued its earnings results on Monday. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01), reports. The business had revenue of $67.41 million for the quarter, compared to analyst estimates of $66.71 million. Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%.

Vitesse Energy Trading Down 2.1%

VTS stock traded down $0.41 during trading on Tuesday, hitting $18.68. The company had a trading volume of 323,194 shares, compared to its average volume of 498,534. The business has a 50-day moving average of $19.06 and a 200-day moving average of $20.18. Vitesse Energy has a one year low of $17.22 and a one year high of $27.15. The stock has a market cap of $778.93 million, a PE ratio of 29.56 and a beta of 0.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20.

Vitesse Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.4375 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.75 annualized dividend and a yield of 9.4%. Vitesse Energy’s dividend payout ratio is presently 277.78%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “hold (c)” rating on shares of Vitesse Energy in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vitesse Energy presently has a consensus rating of “Hold” and an average target price of $21.67.

Institutional Trading of Vitesse Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV boosted its holdings in Vitesse Energy by 141.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,845 shares of the company’s stock valued at $594,000 after acquiring an additional 18,062 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Vitesse Energy by 15.1% in the fourth quarter. NewEdge Advisors LLC now owns 20,199 shares of the company’s stock valued at $389,000 after acquiring an additional 2,648 shares during the last quarter. VARCOV Co. bought a new stake in Vitesse Energy in the fourth quarter valued at approximately $822,000. Odyssean LLC bought a new stake in Vitesse Energy in the fourth quarter valued at approximately $232,000. Finally, Millennium Management LLC boosted its holdings in Vitesse Energy by 44.2% in the fourth quarter. Millennium Management LLC now owns 294,657 shares of the company’s stock valued at $5,675,000 after acquiring an additional 90,307 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Vitesse Energy Company Profile

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.