Vermilion Energy (NYSE:VET) Trading Up 8.4% – Here’s Why

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) shares shot up 8.4% during mid-day trading on Wednesday . The stock traded as high as $11.38 and last traded at $11.0560. 521,459 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,892,687 shares. The stock had previously closed at $10.20.

Analysts Set New Price Targets

VET has been the subject of several recent analyst reports. Desjardins raised shares of Vermilion Energy to a “hold” rating in a research report on Thursday, July 16th. ATB Cormark Capital Markets upgraded shares of Vermilion Energy from a “hold” rating to a “buy” rating in a research note on Friday, March 27th. Weiss Ratings downgraded shares of Vermilion Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Scotiabank reissued a “sector perform” rating on shares of Vermilion Energy in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Vermilion Energy in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

Vermilion Energy Price Performance

The business has a 50-day moving average of $10.67 and a 200 day moving average of $11.00. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.68 billion, a P/E ratio of -2.88 and a beta of 0.31.

Vermilion Energy (NYSE:VET) (TSE:VET) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.89). Vermilion Energy had a negative return on equity of 2.40% and a negative net margin of 43.49%.The firm had revenue of $369.04 million during the quarter, compared to the consensus estimate of $368.66 million.

Vermilion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Vermilion Energy’s dividend payout ratio is presently -10.21%.

Institutional Trading of Vermilion Energy

Hedge funds have recently bought and sold shares of the business. Amundi acquired a new position in Vermilion Energy during the first quarter worth $143,000. EverSource Wealth Advisors LLC grew its holdings in shares of Vermilion Energy by 251.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,397 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,714 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Vermilion Energy by 7,879.7% during the first quarter. Lazard Asset Management LLC now owns 1,513,981 shares of the oil and gas company’s stock valued at $20,867,000 after buying an additional 1,495,008 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Vermilion Energy by 19.1% during the first quarter. Renaissance Technologies LLC now owns 130,122 shares of the oil and gas company’s stock valued at $1,793,000 after buying an additional 20,822 shares during the last quarter. Finally, Compound Planning Inc. bought a new stake in shares of Vermilion Energy during the first quarter worth about $568,000. 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 gas producer headquartered in Calgary, Alberta. Established in 1994, the company focuses on the exploration, development and production of crude oil and natural gas reserves through its wholly owned and joint venture assets. Vermilion’s upstream operations target a balance of oil and gas projects across various regions, with an emphasis on high-quality resource plays that can deliver stable cash flow and long-term reserves replacement.

Vermilion’s product portfolio includes light and medium crude oil, heavy oil, natural gas and natural gas liquids (NGLs).