Michael Sabol, Vice President of SEC and Financial Reporting at Vitesse Energy, Inc. (NYSE:VTS), a $792 million market cap energy company with a notable 7.74% dividend yield, recently sold a portion of his holdings in the company. According to InvestingPro data, the stock is currently trading near its 52-week high with relatively low volatility. According to a filing with the Securities and Exchange Commission, Sabol sold 6,714 shares of common stock on January 14, 2025. The shares were sold at an average price of $26.6954, resulting in a total transaction value of approximately $179,232. The stock has shown strong momentum, delivering a 46% return over the past year.
Following this transaction, Sabol holds 63,411 shares of Vitesse Energy. The sale was executed under a pre-established 10b5-1 plan, which was set up to cover tax obligations from the vesting of restricted stock units. The shares were sold in multiple transactions, with prices ranging from $26.58 to $26.89. For deeper insights into VTS’s valuation and 7 additional ProTips, including detailed financial health analysis, visit InvestingPro.
In other recent news, Vitesse Energy has announced its Q3 2024 financial and operational results, emphasizing a robust performance and a strategic approach to capital allocation. The company reported a steady production rate and a significant reduction in capital expenditures (CapEx), while maintaining its production guidance. Vitesse Energy paid a dividend of $0.525 per share in September and declared another dividend for December, and has revised its 2024 guidance, reducing CapEx by 18% but keeping production within the previous range.
In light of these developments, Vitesse expects a 7% production growth with slightly reduced CapEx for 2025. Third-quarter production averaged 13,009 barrels of oil equivalent per day. The company has hedged a significant portion of its future oil production at favorable prices and its leverage ratio stood at 0.68x, with a decrease in debt and an amended credit facility.
Furthermore, Vitesse Energy anticipates continued capital efficiency and flexibility in response to market conditions. The company looks forward to increased production towards the end of Q4 2024 and into early 2025, with a preliminary 2025 outlook suggesting production ranging from 13,750 to 14,500 BOE per day, and total CapEx between $105 million and $120 million. These recent developments underscore Vitesse Energy’s disciplined approach to capital management and solid operational performance.
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