Vermilion Energy (TSE:VET) Trading Up 20.3% – Here’s What Happened

Shares of Vermilion Energy Inc. (TSE:VET) (NYSE:VET) shot up 20.3% on Wednesday . The stock traded as high as C$9.41 and last traded at C$9.29. 2,511,157 shares changed hands during mid-day trading, an increase of 228% from the average session volume of 764,972 shares. The stock had previously closed at C$7.72.

Wall Street Analysts Forecast Growth

VET has been the topic of several recent analyst reports. Desjardins cut shares of Vermilion Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$19.00 to C$14.00 in a report on Wednesday, March 19th. Royal Bank of Canada decreased their price objective on shares of Vermilion Energy from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Monday, December 30th. Atb Cap Markets lowered shares of Vermilion Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. National Bankshares boosted their price target on Vermilion Energy from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets dropped their price objective on Vermilion Energy from C$16.00 to C$14.00 in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$17.06.

Vermilion Energy Stock Performance

The company has a debt-to-equity ratio of 35.61, a current ratio of 1.25 and a quick ratio of 0.40. The company has a market capitalization of C$1.44 billion, a PE ratio of -1.75, a PEG ratio of -0.02 and a beta of 2.60. The company has a 50 day moving average of C$11.62 and a two-hundred day moving average of C$13.02.

Vermilion Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 5.60%. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.12. Vermilion Energy’s payout ratio is presently -9.03%.

About Vermilion Energy

Vermilion Energy Inc is an international oil and gas producing company. It engages in full-cycle exploration and production programs that focus on the acquisition, exploration, development, and optimization of producing properties in North America, Europe, and Australia. The majority of Vermilion’s revenue has derived from the production and sale of petroleum and natural gas.