Vitesse Energy, Inc. (VTS) to Issue Quarterly Dividend of $0.53 on June 28th

Vitesse Energy, Inc. (NYSE:VTS) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.525 per share on Friday, June 28th. This represents a $2.10 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.50.

Vitesse Energy has a payout ratio of 104.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vitesse Energy to earn $1.79 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 111.7%.

Vitesse Energy Stock Performance

Shares of VTS stock opened at $24.86 on Thursday. The stock has a market cap of $732.13 million, a PE ratio of -32.71 and a beta of 0.19. Vitesse Energy has a 52-week low of $17.45 and a 52-week high of $27.39. The business has a 50-day simple moving average of $23.27 and a 200-day simple moving average of $22.58. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.15.

Vitesse Energy (NYSE:VTS) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts expect that Vitesse Energy will post 1.27 EPS for the current year.

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.