Vitesse Energy (NYSE:VTS) Releases Earnings Results, Beats Expectations By $0.71 EPS

Vitesse Energy (NYSE:VTS) issued its quarterly earnings results on Monday. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71, FiscalAI reports. Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. The business had revenue of $91.01 million for the quarter, compared to analysts’ expectations of $77.33 million.

Vitesse Energy Price Performance

Shares of NYSE VTS traded down $0.11 during mid-day trading on Monday, reaching $15.49. 428,967 shares of the company traded hands, compared to its average volume of 508,164. Vitesse Energy has a fifty-two week low of $15.00 and a fifty-two week high of $27.15. The firm has a market cap of $646.09 million, a PE ratio of -30.98 and a beta of 0.58. The stock has a fifty day simple moving average of $16.27 and a 200-day simple moving average of $18.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy’s dividend payout ratio (DPR) is currently -350.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VTS. Northland Securities raised shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price objective for the company in a report on Thursday, July 23rd. Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vitesse Energy has a consensus rating of “Hold” and an average price target of $19.25.

Insiders Place Their Bets

In other news, Director Joseph S. Steinberg purchased 40,882 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $16.16 per share, with a total value of $660,653.12. Following the purchase, the director owned 108,500 shares in the company, valued at $1,753,360. This trade represents a 60.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently bought and sold shares of VTS. Ausdal Financial Partners Inc. increased its holdings in shares of Vitesse Energy by 5.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock valued at $257,000 after purchasing an additional 690 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Vitesse Energy by 3.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock worth $404,000 after acquiring an additional 786 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Vitesse Energy by 5.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,158 shares of the company’s stock worth $357,000 after acquiring an additional 861 shares in the last quarter. Swiss National Bank increased its holdings in shares of Vitesse Energy by 1.8% during the 4th quarter. Swiss National Bank now owns 57,144 shares of the company’s stock valued at $1,101,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Vitesse Energy by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after acquiring an additional 1,069 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

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.