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

Vitesse Energy (NYSE:VTS) posted its quarterly earnings data on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.13), Zacks reports. Vitesse Energy had a return on equity of 7.25% and a net margin of 15.12%.

Vitesse Energy Price Performance

Shares of Vitesse Energy stock traded down $0.34 during mid-day trading on Monday, reaching $21.42. 523,514 shares of the stock were exchanged, compared to its average volume of 314,184. The company has a market cap of $826.83 million, a price-to-earnings ratio of 20.20 and a beta of 0.60. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $23.83 and a 200 day simple moving average of $23.25. Vitesse Energy has a fifty-two week low of $18.90 and a fifty-two week high of $28.41.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.5625 per share. The ex-dividend date is Monday, December 15th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 10.5%. Vitesse Energy’s dividend payout ratio (DPR) is 212.26%.

Institutional Investors Weigh In On Vitesse Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in Vitesse Energy by 9.9% during the 2nd quarter. First Trust Advisors LP now owns 235,738 shares of the company’s stock worth $5,207,000 after acquiring an additional 21,309 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Vitesse Energy by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock worth $5,012,000 after acquiring an additional 9,943 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vitesse Energy by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 202,894 shares of the company’s stock valued at $4,482,000 after purchasing an additional 14,093 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Vitesse Energy by 241.7% in the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock valued at $4,415,000 after purchasing an additional 126,991 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Vitesse Energy by 113.2% in the 2nd quarter. Invesco Ltd. now owns 149,470 shares of the company’s stock valued at $3,302,000 after purchasing an additional 79,373 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

VTS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vitesse Energy in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research cut shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Evercore ISI cut their target price on shares of Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Vitesse Energy currently has an average rating of “Hold” and an average price target of $24.50.

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.