Vermilion Energy (NYSE:VET) Trading Up 6.1% – Here’s Why

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) was up 6.1% during mid-day trading on Thursday . The stock traded as high as $9.32 and last traded at $9.18. Approximately 452,697 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,135,702 shares. The stock had previously closed at $8.65.

Analysts Set New Price Targets

Separately, BMO Capital Markets downgraded shares of Vermilion Energy from an “outperform” rating to a “market perform” rating in a report on Friday, October 4th.

Vermilion Energy Stock Performance

The company’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $10.21. The stock has a market cap of $1.38 billion, a PE ratio of -2.38 and a beta of 1.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.25.

Vermilion Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.089 dividend. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 4.00%. Vermilion Energy’s payout ratio is currently -9.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VET. EverSource Wealth Advisors LLC raised its stake in Vermilion Energy by 2,569.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,817 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 3,674 shares during the period. Net Worth Advisory Group bought a new stake in shares of Vermilion Energy in the third quarter valued at approximately $115,000. Marshall Wace LLP purchased a new stake in shares of Vermilion Energy during the 2nd quarter valued at approximately $122,000. Blue Trust Inc. boosted its holdings in Vermilion Energy by 601.9% in the 3rd quarter. Blue Trust Inc. now owns 13,996 shares of the oil and gas company’s stock worth $137,000 after buying an additional 12,002 shares during the period. Finally, Aigen Investment Management LP grew its stake in Vermilion Energy by 29.8% in the 3rd quarter. Aigen Investment Management LP now owns 27,148 shares of the oil and gas company’s stock valued at $265,000 after buying an additional 6,229 shares in the last quarter. Hedge funds and other institutional investors own 31.91% of the company’s stock.

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.