Vitesse Energy (NYSE:VTS) Shares Gap Down After Earnings Miss

by · The Markets Daily

Vitesse Energy, Inc. (NYSE:VTS – Get Free Report)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $17.24, but opened at $16.37. Vitesse Energy shares last traded at $16.1020, with a volume of 112,909 shares.

The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Vitesse Energy had a positive return on equity of 0.27% and a negative net margin of 15.43%. The firm had revenue of $82.95 million for the quarter, compared to analysts’ expectations of $76.97 million.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 11.7%. The ex-dividend date is Tuesday, December 15th. Vitesse Energy’s dividend payout ratio (DPR) is -530.30%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a research note on Thursday, September 17th. Alliance Global Partners restated a “buy” rating on shares of Vitesse Energy in a research report on Tuesday, August 4th. Northland Securities set a $20.50 target price on Vitesse Energy in a research note on Thursday, September 17th. Finally, Zacks Research upgraded Vitesse Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.50.

Read Our Latest Report on VTS

Institutional Trading of Vitesse Energy

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in shares of Vitesse Energy by 33.9% during the first quarter. First Trust Advisors LP now owns 337,885 shares of the company’s stock valued at $6,136,000 after acquiring an additional 85,637 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Vitesse Energy by 58.6% in the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock valued at $4,990,000 after purchasing an additional 101,506 shares during the period. Mraz Amerine & Associates Inc. grew its stake in Vitesse Energy by 1.7% in the third quarter. Mraz Amerine & Associates Inc. now owns 165,002 shares of the company’s stock worth $2,756,000 after purchasing an additional 2,796 shares in the last quarter. Bank of America Corp DE grew its stake in Vitesse Energy by 162.3% in the first quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after purchasing an additional 86,777 shares in the last quarter. Finally, Norris Financial Group LLC bought a new position in Vitesse Energy in the first quarter worth approximately $1,394,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Price Performance

The firm has a fifty day simple moving average of $17.48 and a 200 day simple moving average of $17.94. The company has a market capitalization of $632.83 million, a PE ratio of -12.95 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.06 and a current ratio of 0.65.

Vitesse Energy Company Profile

(Get Free Report)

Vitesse Energy, Inc is an independent energy company focused on owning non-operated interests in oil and natural gas wells. Rather than serving as the primary operator, Vitesse invests alongside exploration and production companies, allowing it to participate in well production while relying on operating partners to manage drilling and field activities.

The company’s portfolio is weighted toward oil-producing assets in the Williston Basin, including the Bakken and Three Forks formations in North Dakota and Montana.

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