Vermilion Energy (NYSE:VET) Shares Up 8.4% on Analyst Upgrade

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

A number of other analysts have also commented on VET. Wall Street Zen raised Vermilion Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised Vermilion Energy from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings cut Vermilion Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Scotiabank reaffirmed a “sector perform” rating on shares of Vermilion Energy in a research report on Tuesday, April 21st. Finally, ATB Cormark Capital Markets upgraded Vermilion Energy from a “hold” rating to a “buy” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.00.

Institutional Investors Weigh In On Vermilion Energy

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Vermilion Energy by 51.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,488 shares of the oil and gas company’s stock worth $13,207,000 after acquiring an additional 553,281 shares during the period. JPMorgan Chase & Co. lifted its holdings in Vermilion Energy by 197.1% in the second quarter. JPMorgan Chase & Co. now owns 693,788 shares of the oil and gas company’s stock valued at $5,051,000 after acquiring an additional 460,247 shares during the period. Hsbc Holdings PLC purchased a new position in Vermilion Energy in the second quarter worth about $573,000. Invesco Ltd. grew its stake in shares of Vermilion Energy by 20.0% during the 2nd quarter. Invesco Ltd. now owns 127,675 shares of the oil and gas company’s stock valued at $929,000 after purchasing an additional 21,268 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Vermilion Energy by 31.3% during the 2nd quarter. First Trust Advisors LP now owns 637,107 shares of the oil and gas company’s stock valued at $4,638,000 after purchasing an additional 151,895 shares during the last quarter. 31.91% of the stock is currently owned by hedge funds and other institutional investors.

Vermilion Energy Stock Up 1.9%

The company’s 50-day moving average price is $10.61 and its 200 day moving average price is $11.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.63. The stock has a market cap of $1.72 billion, a PE ratio of -2.94 and a beta of 0.31.

Vermilion Energy (NYSE:VET) (TSE:VET) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $369.04 million during the quarter, compared to analysts’ expectations of $368.66 million.

Vermilion Energy Dividend Announcement

The business also recently disclosed 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 4.8%. The ex-dividend date of this dividend was Monday, June 15th. Vermilion Energy’s payout ratio is presently -10.21%.

Vermilion Energy Company Profile

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).