Vermilion Energy (NYSE:VET) Trading 7.3% Higher After Dividend Announcement

Vermilion Energy Inc. (NYSE:VET) (TSE:VET)’s share price was up 7.3% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $12.36 and last traded at $12.08. Approximately 591,079 shares traded hands during mid-day 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. Stockholders of record on Friday, June 28th will be given a dividend of $0.0872 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 28th. Vermilion Energy’s dividend payout ratio is currently -10.43%.

Analysts Set New Price Targets

Separately, TD Securities raised shares of Vermilion Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Vermilion Energy Stock Up 0.3 %

The firm has a market cap of $1.88 billion, a PE ratio of -4.24 and a beta of 2.04. The company has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $12.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 1.10.

Vermilion Energy (NYSE:VET) (TSE:VET) last posted its quarterly earnings data 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). Vermilion Energy had a negative net margin of 30.71% and a positive return on equity of 11.16%. The business had revenue of $376.85 million for the quarter. During the same period in the prior year, the firm posted $0.77 EPS. Analysts expect that Vermilion Energy Inc. will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Vermilion Energy in the 4th quarter valued at about $84,000. Citigroup Inc. lifted its holdings in shares of Vermilion Energy by 40.3% during the 3rd quarter. Citigroup Inc. now owns 6,732 shares of the oil and gas company’s stock valued at $99,000 after purchasing an additional 1,932 shares during the last quarter. AGF Management Ltd. acquired a new stake in shares of Vermilion Energy in the 4th quarter worth $143,000. Bank of Nova Scotia Trust Co. acquired a new position in Vermilion Energy during the 3rd quarter valued at about $147,000. Finally, Moody Aldrich Partners LLC purchased a new stake in Vermilion Energy in the third quarter valued at about $157,000. Hedge funds and other institutional investors own 31.91% of the company’s stock.

Vermilion Energy Company Profile

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.