Vitesse Energy, Inc. (VTS) To Go Ex-Dividend on June 16th

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Investors of record on Monday, June 16th will be given a dividend of 0.5625 per share on Monday, June 30th. This represents a $2.25 annualized dividend and a dividend yield of 9.20%. The ex-dividend date of this dividend is Monday, June 16th.

Vitesse Energy has a payout ratio of 206.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

VTS opened at $24.46 on Friday. The company’s 50 day simple moving average is $21.52 and its 200 day simple moving average is $24.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. Vitesse Energy has a 1 year low of $18.90 and a 1 year high of $28.41. The stock has a market capitalization of $944.50 million, a PE ratio of 16.75 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VTS. Wall Street Zen raised shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Alliance Global Partners initiated coverage on shares of Vitesse Energy in a research report on Wednesday, May 14th. They issued a “buy” rating and a $26.00 target price on the stock. Roth Mkm raised their price target on shares of Vitesse Energy from $30.50 to $33.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Northland Capmk upgraded shares of Vitesse Energy to a “hold” rating in a report on Tuesday, May 20th. Finally, Evercore ISI restated an “in-line” rating and issued a $28.00 price target on shares of Vitesse Energy in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Vitesse Energy presently has a consensus rating of “Hold” and an average target price of $26.50.

Institutional Trading of Vitesse Energy

A number of hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Vitesse Energy during the first quarter valued at approximately $54,000. Goldman Sachs Group Inc. raised its stake in shares of Vitesse Energy by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock valued at $5,012,000 after purchasing an additional 9,943 shares during the period. Millennium Management LLC raised its stake in shares of Vitesse Energy by 241.7% during the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vitesse Energy by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after purchasing an additional 1,065 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Vitesse Energy by 29.7% during the first quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after purchasing an additional 5,002 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

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.