VTS announces the acquisition of Lucero Energy in a $222M all-stock deal, enhancing its financial strength, operational scope and shareholder returns.
Vitesse Energy (VTS 1.22%) offers a 7.5% yield. Unlike many other oil and gas companies, its story isn't solely about relying on oil and gas prices to drive the share price or sustain the dividend.
Vitesse Energy, Inc. (NYSE:VTS ) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET Company Participants Ben Messier - Director of Investor Relations and Business Development Bob Gerrity - Chairman and Chief Executive Officer Brian Cree - President James Henderson - Chief Financial Officer Conference Call Participants Jeff Grampp - Alliance Global Partners Noel Parks - Tuohy Brothers Operator Greetings. Welcome to the Vitesse Energy Third Quarter 2024 Earnings Call.
Vitesse Energy (VTS) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.38 per share a year ago.
Vitesse Energy is the result of a spinoff from Jefferies Financial Group in 2023. An ultra-high-yield dividend makes Vitesse Energy look especially appealing.
Vitesse Energy (VTS) stock price has done well after being spun out from Jefferies in 2023. It has soared from a low of $12.18 to a record high of over $26.70, helped by the robust energy prices.
Management uses a hedging strategy to protect the downside risk from a fall in the oil price. The strategy also isolates the risk to Vitesse's core strength, which is management's ability to identify attractive assets to invest in.
Vitesse Energy (VTS) came out with quarterly earnings of $0.35 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.34 per share a year ago.
A decline in natural gas prices and higher capex are likely to have affected Vitesse Energy's (VTS) earnings in Q2.
Here is how Vitesse Energy (VTS) and Weatherford (WFRD) have performed compared to their sector so far this year.
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Vitesse (VTS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.