Vermilion Energy Inc. (VET) Downgraded by Zacks Investment Research
Vermilion Energy Inc. (NYSE:VET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Vermilion Energy Inc. is an international oil and gas producer with properties in Western Canada, Australia, France and the Netherlands. Vermilion Energy Inc, formerly known as Vermilion Energy Trust, is based in Calgary, Canada. “
A number of other research analysts have also recently issued reports on VET. CIBC reissued an “outperform” rating and issued a $50.00 target price on shares of Vermilion Energy in a research note on Wednesday, June 15th. Barclays PLC reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Vermilion Energy in a research report on Thursday, June 30th. Scotiabank reaffirmed an “outperform” rating and set a $52.50 price objective on shares of Vermilion Energy in a research report on Thursday, June 30th. Desjardins reaffirmed a “buy” rating and set a $52.00 price objective (up from $47.50) on shares of Vermilion Energy in a research report on Thursday, August 11th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $47.00 price objective (up from $43.00) on shares of Vermilion Energy in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $50.23.
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Shares of Vermilion Energy (NYSE:VET) traded down 0.529% on Tuesday, hitting $40.206. The company had a trading volume of 101,501 shares. The firm has a 50 day moving average of $37.23 and a 200-day moving average of $33.69. Vermilion Energy has a 12-month low of $20.31 and a 12-month high of $40.54. The firm’s market capitalization is $4.69 billion.
Vermilion Energy (NYSE:VET) last posted its earnings results on Thursday, August 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.16. Vermilion Energy had a negative net margin of 42.00% and a negative return on equity of 8.50%. The business earned $212.86 million during the quarter, compared to analyst estimates of $151.30 million. On average, equities analysts predict that Vermilion Energy will post ($0.76) EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Thursday, September 22nd will be paid a $0.165 dividend. The ex-dividend date is Tuesday, September 20th. This represents a $1.98 annualized dividend and a yield of 4.90%. Vermilion Energy’s dividend payout ratio is -80.41%.
Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Vermilion Energy by 0.5% in the second quarter. Royal Bank of Canada now owns 7,243,206 shares of the company’s stock valued at $230,479,000 after buying an additional 32,961 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Vermilion Energy during the second quarter valued at about $100,979,000. Greystone Managed Investments Inc. raised its stake in Vermilion Energy by 9.8% in the fourth quarter. Greystone Managed Investments Inc. now owns 3,032,734 shares of the company’s stock valued at $82,112,000 after buying an additional 270,179 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Vermilion Energy by 51.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,737,894 shares of the company’s stock valued at $74,576,000 after buying an additional 928,877 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Vermilion Energy by 2.0% in the fourth quarter. Fiera Capital Corp now owns 2,670,827 shares of the company’s stock valued at $72,642,000 after buying an additional 53,518 shares in the last quarter. Hedge funds and other institutional investors own 44.67% of the company’s stock.
About Vermilion Energy
Vermilion Energy Inc (Vermilion) is a Canada-based international oil and gas producer. The Company is focused on the acquisition, development and optimization of producing properties in North America, Europe and Australia. The Company’s segments are Canada, which relates to its assets in Alberta and Saskatchewan; France, which relates to its operations in France in the Paris and Aquitaine basins; Netherlands, which relates to its operations in the Netherlands; Germany, which relates to its operations in Germany; Ireland, which relates to its non-operated interest in the Corrib offshore natural gas field; Australia, which relates to operations on the Wandoo offshore crude oil field; the United States, which relates to its operations in Wyoming in the Powder River Basin, and Corporate.
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