Royal Bank of Canada Reaffirms “Average” Rating for Vermilion Energy (VET)
Royal Bank of Canada reiterated their average rating on shares of Vermilion Energy (NYSE:VET) (TSE:VET) in a report released on Tuesday morning. They currently have a $40.00 target price on the oil and gas company’s stock.
A number of other brokerages also recently issued reports on VET. Raymond James raised Vermilion Energy to a buy rating in a research report on Tuesday, December 11th. Zacks Investment Research raised Vermilion Energy from a hold rating to a buy rating and set a $34.00 target price on the stock in a research note on Wednesday, October 17th. Bank of America initiated coverage on Vermilion Energy in a report on Tuesday, September 18th. They issued a buy rating and a $41.00 target price for the company. Canaccord Genuity restated a buy rating on shares of Vermilion Energy in a report on Tuesday, October 30th. Finally, Wood & Company restated a buy rating on shares of Vermilion Energy in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $38.33.
VET traded down $0.07 during trading on Tuesday, hitting $23.75. The company’s stock had a trading volume of 2,910 shares, compared to its average volume of 457,841. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.47 and a current ratio of 0.52. Vermilion Energy has a 12 month low of $19.43 and a 12 month high of $40.59. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 0.81 and a beta of 0.90.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $0.1723 per share. The ex-dividend date is Friday, December 28th. This represents a $2.07 dividend on an annualized basis and a dividend yield of 8.70%. Vermilion Energy’s payout ratio is presently 407.84%.
Several large investors have recently bought and sold shares of VET. Sei Investments Co. grew its position in shares of Vermilion Energy by 24.7% during the 2nd quarter. Sei Investments Co. now owns 26,547 shares of the oil and gas company’s stock valued at $956,000 after acquiring an additional 5,257 shares during the period. Bank of New York Mellon Corp lifted its stake in Vermilion Energy by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 152,474 shares of the oil and gas company’s stock worth $5,490,000 after purchasing an additional 16,743 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Vermilion Energy in the 2nd quarter worth $220,000. BlackRock Inc. lifted its stake in Vermilion Energy by 21.1% in the 2nd quarter. BlackRock Inc. now owns 80,022 shares of the oil and gas company’s stock worth $2,882,000 after purchasing an additional 13,955 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Vermilion Energy during the 2nd quarter valued at about $476,000. Institutional investors and hedge funds own 53.59% of the company’s stock.
Vermilion Energy Company Profile
Vermilion Energy Inc acquires, explores, develops, and produces crude petroleum and natural gas. As of December 31, 2017, it owned 74% interest in 330,900 net acres of developed land and 87% interest in 376,400 net acres of undeveloped land, as well as 375 net producing natural gas wells and 475 net producing oil wells in Canada; and 96% interest in 208,900 net acres of developed land and 99% interest in 379,800 net acres of undeveloped land in the Aquitaine and Paris Basins, as well as 332 net producing oil wells and 3 net producing gas wells in France.
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