Vitesse Energy (NYSE:VTS) Posts Earnings Results, Misses Estimates By $0.12 EPS

Vitesse Energy (NYSE:VTS) posted its earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.12), Zacks reports. Vitesse Energy had a net margin of 7.70% and a return on equity of 5.71%. The company had revenue of $58.62 million during the quarter, compared to analyst estimates of $67.10 million.

Vitesse Energy Stock Up 1.2%

VTS stock opened at $19.54 on Tuesday. The company’s 50 day moving average price is $20.39 and its 200 day moving average price is $21.97. The firm has a market capitalization of $755.61 million, a price-to-earnings ratio of 39.08 and a beta of 0.68. Vitesse Energy has a fifty-two week low of $18.84 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85.

Vitesse Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 9.0%. Vitesse Energy’s payout ratio is currently 450.00%.

Insiders Place Their Bets

In related news, CEO Robert W. Gerrity sold 90,737 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $20.14, for a total value of $1,827,443.18. Following the transaction, the chief executive officer owned 514,693 shares of the company’s stock, valued at $10,365,917.02. This represents a 14.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Brian Cree sold 43,216 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $20.12, for a total value of $869,505.92. Following the completion of the sale, the president owned 519,679 shares in the company, valued at approximately $10,455,941.48. This represents a 7.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 341,808 shares of company stock worth $6,758,540 in the last 90 days. Corporate insiders own 18.15% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in Vitesse Energy in the first quarter valued at approximately $54,000. Osaic Holdings Inc. grew its position in shares of Vitesse Energy by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after buying an additional 1,069 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Vitesse Energy by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after acquiring an additional 2,432 shares during the last quarter. Odyssean LLC acquired a new position in Vitesse Energy in the fourth quarter valued at $232,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Vitesse Energy by 20.4% during 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 last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on VTS. Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.50.

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.