Vermilion Energy Inc. (NYSE:VET) to Issue Dividend Increase – $0.09 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.088 per share by the oil and gas company on Tuesday, October 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.09.

Vermilion Energy has decreased its dividend by an average of 11.4% per year over the last three years. Vermilion Energy has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vermilion Energy to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 22.9%.

Vermilion Energy Stock Down 3.0 %

Shares of VET traded down $0.30 on Friday, hitting $9.68. The company’s stock had a trading volume of 603,003 shares, compared to its average volume of 1,162,749. The firm’s fifty day moving average price is $11.24 and its 200-day moving average price is $11.42. Vermilion Energy has a fifty-two week low of $9.68 and a fifty-two week high of $15.98. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.53 and a beta of 2.03.

Vermilion Energy (NYSE:VET) (TSE:VET) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.78). Vermilion Energy had a negative net margin of 41.33% and a positive return on equity of 5.76%. The company had revenue of $376.85 million during the quarter. During the same period in the previous year, the business earned $0.77 EPS. On average, equities research analysts expect that Vermilion Energy will post 1.24 EPS for the current year.

Analyst Ratings Changes

Separately, BMO Capital Markets started coverage on shares of Vermilion Energy in a research report on Tuesday, May 14th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Vermilion Energy currently has an average rating of “Moderate Buy” and an average price target of $25.00.

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.