Vitesse Energy (NYSE:VTS) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Vitesse Energy (NYSE:VTS) posted its quarterly earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13), FiscalAI reports. The firm had revenue of $58.62 million for the quarter, compared to analysts’ expectations of $67.10 million. Vitesse Energy had a net margin of 7.70% and a return on equity of 5.71%.

Vitesse Energy Price Performance

NYSE VTS traded up $0.23 during trading on Monday, hitting $19.54. 853,547 shares of the company’s stock were exchanged, compared to its average volume of 415,256. The company has a market cap of $755.61 million, a PE ratio of 39.08 and a beta of 0.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $20.38 and its two-hundred day moving average price is $22.01. Vitesse Energy has a fifty-two week low of $18.84 and a fifty-two week high of $27.15.

Vitesse Energy Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Monday, March 16th. Vitesse Energy’s dividend payout ratio is 450.00%.

Insiders Place Their Bets

In related news, CEO Robert W. Gerrity sold 36,785 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $19.66, for a total value of $723,193.10. Following the transaction, the chief executive officer owned 371,991 shares in the company, valued at approximately $7,313,343.06. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Sabol sold 4,497 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $20.14, for a total transaction of $90,569.58. Following the transaction, the vice president directly owned 64,914 shares of the company’s stock, valued at approximately $1,307,367.96. This represents a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 341,808 shares of company stock worth $6,758,540 in the last quarter. 18.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vitesse Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Vitesse Energy by 141.3% during 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 in the last quarter. NewEdge Advisors LLC grew its stake in shares of Vitesse Energy by 15.1% in the 4th quarter. NewEdge Advisors LLC now owns 20,199 shares of the company’s stock worth $389,000 after buying an additional 2,648 shares during the last quarter. VARCOV Co. purchased a new position in shares of Vitesse Energy in the 4th quarter worth about $822,000. Odyssean LLC purchased a new position in Vitesse Energy in the 4th quarter worth approximately $232,000. Finally, Millennium Management LLC boosted its position in shares of Vitesse Energy by 44.2% during the fourth quarter. Millennium Management LLC now owns 294,657 shares of the company’s stock valued at $5,675,000 after buying an additional 90,307 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on VTS. 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 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, Vitesse Energy presently has a consensus rating of “Hold” and an average price target 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.