Vitesse Energy, Inc. (VTS) to Issue Quarterly Dividend of $0.56 on March 31st

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.5625 per share on Monday, March 31st. This represents a $2.25 annualized dividend and a dividend yield of 9.46%. The ex-dividend date is Friday, March 21st. This is a 7.1% increase from Vitesse Energy’s previous quarterly dividend of $0.53.

Vitesse Energy has a payout ratio of 163.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Vitesse Energy to earn $1.16 per share next year, which means the company may not be able to cover its $2.25 annual dividend with an expected future payout ratio of 194.0%.

Vitesse Energy Stock Performance

NYSE VTS opened at $23.79 on Wednesday. Vitesse Energy has a 1 year low of $21.83 and a 1 year high of $28.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $917.77 million, a price-to-earnings ratio of 16.29 and a beta of 0.53. The company has a fifty day moving average price of $25.87 and a 200-day moving average price of $25.77.

Analysts Set New Price Targets

VTS has been the subject of several recent analyst reports. Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Securities boosted their price target on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Finally, Northland Capmk raised shares of Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th.

Insider Buying and Selling

In related news, CAO Mike Morella sold 8,143 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total value of $217,336.67. Following the transaction, the chief accounting officer now directly owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. The trade was a 9.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Sabol sold 6,714 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.70, for a total transaction of $179,263.80. Following the completion of the transaction, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. This trade represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.

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.