Vitesse Energy (NYSE:VTS) Posts Earnings Results, Misses Estimates By $0.13 EPS

Vitesse Energy (NYSE:VTS) announced its quarterly earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.13), FiscalAI reports. Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%.The business had revenue of $58.62 million during the quarter, compared to the consensus estimate of $67.10 million.

Vitesse Energy Trading Up 1.2%

Shares of NYSE VTS traded up $0.23 during midday trading on Monday, hitting $19.54. 853,547 shares of the company traded hands, compared to its average volume of 415,256. Vitesse Energy has a 12-month low of $18.84 and a 12-month high of $27.15. The firm has a market cap of $755.61 million, a P/E ratio of 39.08 and a beta of 0.68. The stock has a 50-day moving average price of $20.38 and a 200 day moving average price of $22.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85.

Vitesse Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.75 dividend on an annualized basis and a yield of 9.0%. Vitesse Energy’s dividend payout ratio (DPR) is presently 450.00%.

Insider Activity

In related news, CAO Mike Morella sold 5,202 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $20.13, for a total value of $104,716.26. Following the transaction, the chief accounting officer owned 82,413 shares in the company, valued at $1,658,973.69. The trade was a 5.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert W. Gerrity sold 90,737 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $20.14, for a total transaction of $1,827,443.18. Following the completion of the sale, the chief executive officer owned 514,693 shares in the company, valued at $10,365,917.02. This represents a 14.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 341,808 shares of company stock worth $6,758,540. Insiders own 18.15% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its stake in Vitesse Energy by 141.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,845 shares of the company’s stock worth $594,000 after acquiring an additional 18,062 shares during the last quarter. NewEdge Advisors LLC grew its stake in Vitesse Energy by 15.1% during the 4th quarter. NewEdge Advisors LLC now owns 20,199 shares of the company’s stock worth $389,000 after purchasing an additional 2,648 shares in the last quarter. VARCOV Co. purchased a new stake in shares of Vitesse Energy during the 4th quarter worth $822,000. Odyssean LLC acquired a new position in Vitesse Energy during the fourth quarter worth approximately $232,000. Finally, Millennium Management LLC raised its stake in Vitesse Energy by 44.2% during the 4th quarter. Millennium Management LLC now owns 294,657 shares of the company’s stock valued at $5,675,000 after acquiring an additional 90,307 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vitesse Energy in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Vitesse Energy has a consensus rating of “Hold” and a consensus price target of $24.50.

Vitesse Energy Company Profile

Vitesse Energy (NYSE: VTS) is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.