Vitesse Energy (NYSE:VTS) Sets New 12-Month Low Following Weak Earnings

Vitesse Energy, Inc. (NYSE:VTS)’s stock price hit a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $18.71 and last traded at $19.15, with a volume of 100887 shares. The stock had previously closed at $19.56.

The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.12). Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%.The firm had revenue of $58.62 million for the quarter, compared to the consensus estimate of $67.10 million.

Vitesse Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, March 16th. Vitesse Energy’s dividend payout ratio is 357.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.50.

Insider Buying and Selling at Vitesse Energy

In related news, CEO Robert W. Gerrity sold 90,737 shares of Vitesse Energy stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $20.14, for a total transaction of $1,827,443.18. Following the sale, the chief executive officer directly owned 514,693 shares in the company, valued at approximately $10,365,917.02. This trade represents a 14.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Brian Cree sold 43,216 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $20.12, for a total value of $869,505.92. Following the completion of the sale, the president directly owned 519,679 shares of the company’s stock, valued at $10,455,941.48. This represents a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 341,808 shares of company stock worth $6,758,540. Insiders own 18.15% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Vitesse Energy during the third quarter valued at approximately $34,000. Rakuten Investment Management Inc. purchased a new stake in Vitesse Energy during the third quarter valued at about $37,000. Jones Financial Companies Lllp lifted its position in Vitesse Energy by 203.6% in the third quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock valued at $43,000 after purchasing an additional 1,187 shares during the last quarter. CWM LLC grew its holdings in shares of Vitesse Energy by 138.8% in the second quarter. CWM LLC now owns 1,827 shares of the company’s stock worth $40,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Strs Ohio bought a new position in Vitesse Energy during the 1st quarter valued at approximately $54,000. 51.63% of the stock is currently owned by institutional investors.

Vitesse Energy Stock Up 1.5%

The company’s fifty day simple moving average is $20.37 and its 200 day simple moving average is $21.90. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $751.05 million, a P/E ratio of 29.97 and a beta of 0.68.

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.