Vermilion Energy (NYSE:VET) Shares Up 7.3% Following Dividend Announcement

Vermilion Energy Inc. (NYSE:VET) (TSE:VET)’s stock price rose 7.3% on Thursday after the company announced a dividend. The company traded as high as $12.36 and last traded at $12.08. Approximately 591,079 shares were traded during trading, a decline of 51% from the average daily volume of 1,207,215 shares. The stock had previously closed at $11.26.

The newly announced dividend which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.0872 per share. The ex-dividend date is Friday, June 28th. This represents a $0.35 annualized dividend and a yield of 2.96%. Vermilion Energy’s payout ratio is -10.43%.

Wall Street Analyst Weigh In

Separately, TD Securities upgraded Vermilion Energy from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Vermilion Energy Price Performance

The firm’s fifty day moving average price is $11.85 and its 200-day moving average price is $12.07. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.88 billion, a P/E ratio of -4.24 and a beta of 2.04.

Vermilion Energy (NYSE:VET) (TSE:VET) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.78). The firm had revenue of $376.85 million during the quarter. Vermilion Energy had a positive return on equity of 11.16% and a negative net margin of 30.71%. During the same quarter in the previous year, the business posted $0.77 earnings per share. Analysts forecast that Vermilion Energy Inc. will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Vermilion Energy

Large investors have recently made changes to their positions in the business. Citigroup Inc. raised its holdings in shares of Vermilion Energy by 40.3% during the third quarter. Citigroup Inc. now owns 6,732 shares of the oil and gas company’s stock valued at $99,000 after acquiring an additional 1,932 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Vermilion Energy during the 4th quarter valued at $84,000. Bank of Nova Scotia Trust Co. bought a new position in Vermilion Energy in the 3rd quarter worth $147,000. Moody Aldrich Partners LLC purchased a new stake in shares of Vermilion Energy in the 3rd quarter worth about $157,000. Finally, AGF Management Ltd. bought a new stake in shares of Vermilion Energy during the 4th quarter valued at about $143,000. 31.91% of the stock is currently owned by institutional investors.

About Vermilion Energy

Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas. The company has properties in West Central Alberta, southeast Saskatchewan, Manitoba, and West Pembina in Canada; Wyoming in the United States; southwest Bordeaux and Paris Basin in France; the Netherlands; Germany; Ireland; Croatia; Slovakia; and Australia.