Vermilion Energy (NYSE:VET) Shares Up 5.3% – Here’s Why

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) shares shot up 5.3% during mid-day trading on Friday. The stock traded as high as $14.04 and last traded at $14.1690. Approximately 160,726 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,761,221 shares. The stock had previously closed at $13.45.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Securities reiterated a “buy” rating on shares of Vermilion Energy in a research note on Friday, July 31st. Wall Street Zen raised shares of Vermilion Energy from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings downgraded shares of Vermilion Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Vermilion Energy in a research note on Friday, October 9th. Finally, Scotiabank restated a “sector perform” rating on shares of Vermilion Energy in a research note on Monday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vermilion Energy has a consensus rating of “Hold” and a consensus price target of $15.00.

Vermilion Energy Trading Up 6.2%

The company has a market cap of $2.17 billion, a P/E ratio of -6.76 and a beta of 0.58. The business has a fifty day simple moving average of $12.45 and a 200 day simple moving average of $11.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 1.00.

Vermilion Energy (NYSE:VET) (TSE:VET) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.57. Vermilion Energy had a positive return on equity of 5.26% and a negative net margin of 22.48%. The business had revenue of $390.53 million during the quarter, compared to the consensus estimate of $330.39 million.

Vermilion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of C$0.14 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.54 annualized dividend and a yield of 3.8%. Vermilion Energy’s dividend payout ratio (DPR) is -18.48%.

Hedge Funds Weigh In On Vermilion Energy

A number of hedge funds have recently added to or reduced their stakes in VET. Canoe Financial LP acquired a new position in shares of Vermilion Energy in the 3rd quarter valued at about $15,517,000. Drum Hill Capital LLC grew its position in shares of Vermilion Energy by 0.7% during the 3rd quarter. Drum Hill Capital LLC now owns 372,122 shares of the oil and gas company’s stock valued at $4,238,000 after buying an additional 2,587 shares during the last quarter. Gold Investment Management Ltd. grew its position in shares of Vermilion Energy by 1,493.3% during the 3rd quarter. Gold Investment Management Ltd. now owns 4,780 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 4,480 shares during the last quarter. Engineers Gate Manager LP raised its stake in Vermilion Energy by 212.3% during the second quarter. Engineers Gate Manager LP now owns 172,429 shares of the oil and gas company’s stock worth $1,615,000 after acquiring an additional 117,219 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in Vermilion Energy by 127.7% during the second quarter. TD Waterhouse Canada Inc. now owns 107,717 shares of the oil and gas company’s stock worth $1,009,000 after acquiring an additional 60,415 shares during the period. Institutional investors and hedge funds own 31.91% of the company’s stock.

About Vermilion Energy

Vermilion Energy Inc is a Canadian-based international oil and natural gas producer headquartered in Calgary, Alberta. Founded in 1994, the company explores for, develops, and produces crude oil, condensate, natural gas liquids, and natural gas.

Vermilion operates a geographically diversified portfolio of assets in North America and Europe, with activities in Canada, the United States, France, the Netherlands, Germany, and Croatia. Its production includes conventional and unconventional oil and gas, with operations focused on developing reserves and supplying energy to regional and international markets.

The company’s shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.