Vitesse Energy (NYSE:VTS) Stock Price Up 5.8% After Dividend Announcement

Vitesse Energy, Inc. (NYSE:VTS) shares traded up 5.8% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $23.92 and last traded at $23.90. 136,710 shares were traded during mid-day trading, a decline of 37% from the average session volume of 216,125 shares. The stock had previously closed at $22.58.

The newly announced dividend which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.525 dividend. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.10 annualized dividend and a yield of 8.45%. Vitesse Energy’s dividend payout ratio (DPR) is -263.16%.

Vitesse Energy Stock Up 3.2 %

The firm’s fifty day simple moving average is $23.27 and its 200 day simple moving average is $22.58. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $732.13 million, a price-to-earnings ratio of -32.71 and a beta of 0.19.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings data on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $63.83 million. Vitesse Energy had a negative return on equity of 2.89% and a negative net margin of 9.22%. Sell-side analysts predict that Vitesse Energy, Inc. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VTS. Vanguard Group Inc. lifted its stake in Vitesse Energy by 2.6% during the third quarter. Vanguard Group Inc. now owns 2,449,798 shares of the company’s stock worth $56,076,000 after purchasing an additional 62,599 shares during the last quarter. Cove Street Capital LLC lifted its position in shares of Vitesse Energy by 26.3% during the 1st quarter. Cove Street Capital LLC now owns 351,365 shares of the company’s stock worth $8,338,000 after buying an additional 73,102 shares during the last quarter. GoodHaven Capital Management LLC boosted its holdings in shares of Vitesse Energy by 15.5% in the 4th quarter. GoodHaven Capital Management LLC now owns 306,841 shares of the company’s stock valued at $6,717,000 after buying an additional 41,206 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Vitesse Energy in the 4th quarter valued at $3,266,000. Finally, Mraz Amerine & Associates Inc. raised its stake in Vitesse Energy by 17.5% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 132,445 shares of the company’s stock worth $2,899,000 after acquiring an additional 19,727 shares in the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

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.