Vermilion Energy Inc. (NYSE:VET) Raises Dividend to $0.09 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.088 per share by the oil and gas company on Tuesday, October 15th. This represents a $0.35 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, September 27th. This is a boost 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 dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.9 %

Shares of VET traded down $0.39 during trading hours on Friday, hitting $9.59. 753,334 shares of the stock traded hands, compared to its average volume of 1,165,294. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Vermilion Energy has a 1-year low of $9.56 and a 1-year high of $15.98. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.53 and a beta of 2.03. The business has a fifty day moving average of $11.24 and a 200-day moving average of $11.42.

Vermilion Energy (NYSE:VET) (TSE:VET) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.01 earnings per share (EPS) 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 firm had revenue of $376.85 million for the quarter. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts expect that Vermilion Energy will post 1.24 EPS for the current year.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets initiated coverage on Vermilion Energy in a research note on Tuesday, May 14th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.