In a recent transaction, Mike Morella, Vice President and Chief Accounting Officer at Vitesse Energy, Inc. (NYSE:VTS), sold 8,143 shares of the company's common stock. The shares were sold at an average price of $26.6944, totaling approximately $217,372. The stock, which offers a notable 7.74% dividend yield according to InvestingPro, has delivered an impressive 45.92% return over the past year. This sale was conducted on January 14, 2025, under a pre-established 10b5-1 trading plan. The plan was designed to satisfy tax obligations related to the vesting of restricted stock units. Following this transaction, Morella retains ownership of 81,615 shares in Vitesse Energy. The shares were sold at prices ranging from $26.58 to $26.90. With a beta of 0.48 and an overall financial health score rated as "GOOD" by InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ US stocks, Vitesse Energy demonstrates relatively low price volatility.
In other recent news, Vitesse Energy has reported robust financial and operational results for Q3 2024, with a significant reduction in capital expenditures (CapEx) and steady production rates. The company has maintained its production guidance while strategically allocating capital and providing a preliminary outlook for 2025. Vitesse Energy paid a dividend of $0.525 per share in September and declared another for December. The company revised its 2024 guidance, reducing CapEx by 18% but keeping production within the previous range.
For 2025, Vitesse Energy expects a 7% production growth with slightly reduced CapEx. The company's third-quarter production averaged 13,009 barrels of oil equivalent per day. Vitesse has hedged a significant portion of its future oil production at favorable prices and anticipates continued capital efficiency. The company's leverage ratio stood at 0.68x, with a decrease in debt and an amended credit facility.
These are recent developments and reflect Vitesse Energy's disciplined approach to capital management and operational performance. The company has a strong development pipeline and expects increased production towards the end of Q4 2024 and into early 2025. The preliminary 2025 outlook suggests production ranging from 13,750 to 14,500 BOE per day, with total CapEx between $105 million and $120 million.
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