Start here if you're new
what it is
Vitesse buys slices of oil and gas wells, lets bigger operators run them, and sends the cash back to shareholders.
how it gets paid
Last year Vitesse Energy made $274M in revenue. crude oil sales was the main engine at $205.5M, or 75% of sales.
why it's growing
Revenue grew 13.2% last year. That is what commodity leverage looks like when volumes and pricing line up.
what just happened
Revenue hit $215M, up 219% vs. prior year, while EPS reached $0.67.
At a glance
B+ balance sheet — decent shape, but not bulletproof
5/100 earnings predictability — expect surprises
39.1x trailing p/e — you're paying up for this one
8.8% dividend yield — cash in your pocket every quarter
4.2% return on capital — nothing to write home about
xvary composite: 48/100 — below average
What they do
Vitesse buys slices of oil and gas wells, lets bigger operators run them, and sends the cash back to shareholders.
Non-operator (it owns a share of wells while other companies run them → lower overhead → you avoid paying for a full drilling empire). With just 33 employees, Vitesse produced about $274M of trailing revenue, or roughly $8.3M per employee, based on EDGAR revenue and company headcount. Your edge here is scale without the staffing bill, plus long-term debt of $114M, only 13% of capital.
How they make money
$274M
annual revenue · their business grew +13.2% last year
crude oil sales
$205.5M
+13.2%
natural gas sales
$30.1M
+13.2%
natural gas liquids
$16.4M
+13.2%
hedge settlements
$19.2M
0.0%
other revenue
$2.7M
0.0%
The products that matter
non-operated oil and gas interests
oil and gas production
$274M · entire revenue base
It is the whole business: $274M in annual revenue, up 13.2% last year, with shareholder returns tied to production, realized prices, and whatever the operators do next.
100% of revenue
cash return program
common dividend
8.8% yield · $1.75 annual payout
The dividend is the reason many people look at this stock, but it sits next to a recent $0.02 quarterly loss. That makes payout coverage the key operating question, not an afterthought.
income thesis
portfolio expansion
march 2026 asset deal
$35M stock-for-assets
Management agreed to a $35M stock-for-assets acquisition. That can add production, but with non-operated assets, buying more acreage also means relying on more third-party execution.
execution watch
Key numbers
39.1x
trailing p/e
You are paying a premium multiple for a business with a 6.3% operating margin. That is the whole debate.
8.8%
dividend yield
The payout is the reason many people own this stock. It is also the first thing the market will punish if cash flow slips.
4.2%
return on capital
Return on capital (profit produced from invested money → efficiency → quality check) is low, which tells you the wells are not printing elite returns.
$114M
long-term debt
Debt is manageable at 13% of capital, so the balance sheet is not the main problem. Valuation is.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $114M (13% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for VTS right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $215M, up 219% vs. prior year, while EPS reached $0.67.
That is what commodity leverage looks like when volumes and pricing line up. The quiet part: one big quarter does not erase a business that still carries just a 6.3% operating margin on the base-year numbers.
$215M
revenue
$0.67
eps
+219%
revenue growth
the number that mattered
$215M matters because it shows how violently results can move in this model. That is great on the way up and brutal on the way down.
source: EDGAR, latest quarter
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What could go wrong
the #1 risk is an income thesis built on a dividend that recent earnings did not cover.
high
dividend coverage risk
The stock yields 8.8% based on a $1.75 annual dividend, but q1 2026 was a $0.02 per-share loss. If operating cash flow does not improve, the payout becomes a policy choice rather than an earned result.
The stock yields 8.8% based on a $1.75 annual dividend, but q1 2026 was a $0.02 per-share loss. If operating cash flow does not improve, the payout becomes a policy choice rather than an earned result.
med
oil price and hedge exposure
About 67% of 2026 oil production is hedged. That still leaves roughly one-third exposed to spot prices, and next year's hedge book can always look worse than this year's.
About 67% of 2026 oil production is hedged. That still leaves roughly one-third exposed to spot prices, and next year's hedge book can always look worse than this year's.
med
non-operated execution risk
Vitesse does not run the wells. You own the economic interest, not the operating wheel. If partners underspend, overrun budgets, or miss production targets, your cash flow still feels it.
Vitesse does not run the wells. You own the economic interest, not the operating wheel. If partners underspend, overrun budgets, or miss production targets, your cash flow still feels it.
med
acquisition integration risk
The $35M stock-for-assets deal can support output, but more assets do not automatically mean better economics. In a non-operated model, scale can also mean more counterparties and more moving parts.
The $35M stock-for-assets deal can support output, but more assets do not automatically mean better economics. In a non-operated model, scale can also mean more counterparties and more moving parts.
An 8.8% yield next to a quarterly loss means the payout is sensitive to production, oil prices, and execution. This is not bond-like income dressed up as equity — it is equity income with commodity risk attached.
source: institutional data · regulatory filings · risk analysis
Pay attention to
coverage
does EPS get back above the dividend story
The stock can survive mediocre growth. It cannot endlessly sell a high payout next to weak earnings.
filings
next earnings report
You want to see whether q1 was a one-quarter stumble or the start of a weaker production and pricing stretch.
hedges
what happens to the unhedged one-third
About 33% of 2026 oil production is not hedged. That slice is where price volatility shows up first.
strategy
whether the $35M asset deal lifts cash flow
Management is still expanding. If the new assets do not improve production or payout durability, dilution looks less charitable.
Analyst rankings
earnings predictability
5 / 100
Earnings are hard to model here. In human-speak: analysts do not trust the quarterly path to be smooth.
risk rank
3
That reads as middle-of-the-pack risk, helped by a B+ balance sheet but held back by commodity and payout exposure.
source: institutional data
Institutional activity
institutional ownership data for VTS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$19
current price
n/a
target midpoint · n/a from current
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