Vitesse Energy (NYSE:VTS) Trading Up 5.8% After Dividend Announcement

Shares of Vitesse Energy, Inc. (NYSE:VTS) rose 5.8% on Tuesday after the company announced a dividend. The stock traded as high as $23.92 and last traded at $23.90. Approximately 136,710 shares changed hands during trading, a decline of 37% from the average daily volume of 216,125 shares. The stock had previously closed at $22.58.

The newly announced dividend which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.525 per share. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Friday, June 14th. Vitesse Energy’s dividend payout ratio (DPR) is presently -263.16%.

Vitesse Energy Price Performance

The company has a market cap of $709.45 million, a PE ratio of -31.70 and a beta of 0.19. The business’s 50 day moving average price is $23.22 and its 200-day moving average price is $22.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.15.

Vitesse Energy (NYSE:VTS) last released its earnings results on Monday, February 26th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $63.83 million. Vitesse Energy had a negative net margin of 9.22% and a negative return on equity of 2.89%. As a group, analysts forecast that Vitesse Energy, Inc. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VTS. GoodHaven Capital Management LLC boosted its holdings in Vitesse Energy by 13.8% in the third quarter. GoodHaven Capital Management LLC now owns 265,635 shares of the company’s stock worth $6,080,000 after purchasing an additional 32,211 shares during the period. Ancora Advisors LLC grew its position in shares of Vitesse Energy by 144.7% during the 3rd quarter. Ancora Advisors LLC now owns 108,969 shares of the company’s stock valued at $2,494,000 after buying an additional 64,444 shares during the last quarter. Swiss National Bank raised its stake in Vitesse Energy by 8.2% during the third quarter. Swiss National Bank now owns 53,844 shares of the company’s stock worth $1,232,000 after acquiring an additional 4,100 shares during the period. Kestra Advisory Services LLC bought a new position in Vitesse Energy in the third quarter worth about $1,068,000. Finally, International Assets Investment Management LLC boosted its stake in Vitesse Energy by 2,089.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,248 shares of the company’s stock valued at $27,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds own 51.63% of the company’s stock.

About Vitesse Energy

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.