Vitesse Energy, Inc. (NYSE:VTS) to Issue Dividend Increase – $0.53 Per Share

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.525 per share on Friday, June 28th. This represents a $2.10 dividend on an annualized basis and a yield of 8.63%. The ex-dividend date is Friday, June 14th. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.50.

Vitesse Energy has a dividend payout ratio of 104.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vitesse Energy to earn $1.79 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 111.7%.

Vitesse Energy Stock Performance

NYSE VTS traded up $0.25 during mid-day trading on Wednesday, reaching $24.34. 28,053 shares of the stock were exchanged, compared to its average volume of 216,862. The business’s 50 day moving average is $23.22 and its 200-day moving average is $22.56. Vitesse Energy has a 1 year low of $17.45 and a 1 year high of $27.39. The company has a market capitalization of $716.81 million, a P/E ratio of -32.03 and a beta of 0.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.97 and a current ratio of 0.97.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $69.30 million for the quarter, compared to analyst estimates of $63.83 million. Vitesse Energy had a negative return on equity of 2.89% and a negative net margin of 9.22%. On average, equities research analysts forecast that Vitesse Energy will post 1.27 EPS for the current fiscal year.

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.