Vermilion Energy (NYSE:VET) Trading Up 5.2% – Here’s Why

Vermilion Energy Inc. (NYSE:VET) (TSE:VET)’s stock price shot up 5.2% during mid-day trading on Thursday . The company traded as high as $9.88 and last traded at $9.85. 253,683 shares changed hands during trading, a decline of 78% from the average session volume of 1,141,263 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

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

Vermilion Energy Trading Down 0.7 %

The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $9.71 and its two-hundred day moving average is $10.56. The firm has a market cap of $1.54 billion, a P/E ratio of -2.65 and a beta of 2.00.

Vermilion Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.089 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 3.59%. This is a boost from Vermilion Energy’s previous quarterly dividend of $0.09. Vermilion Energy’s payout ratio is currently -9.63%.

Institutional Trading of Vermilion Energy

Several institutional investors and hedge funds have recently bought and sold shares of VET. Millennium Management LLC lifted its position in Vermilion Energy by 34.5% during the second quarter. Millennium Management LLC now owns 5,484,654 shares of the oil and gas company’s stock valued at $60,359,000 after buying an additional 1,405,653 shares during the period. Royce & Associates LP purchased a new position in Vermilion Energy during the 3rd quarter valued at about $6,001,000. The Manufacturers Life Insurance Company lifted its position in Vermilion Energy by 345.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 592,839 shares of the oil and gas company’s stock valued at $5,790,000 after acquiring an additional 459,746 shares during the period. Two Sigma Advisers LP boosted its stake in Vermilion Energy by 72.8% during the third quarter. Two Sigma Advisers LP now owns 1,040,076 shares of the oil and gas company’s stock worth $10,162,000 after acquiring an additional 438,200 shares in the last quarter. Finally, PDT Partners LLC grew its holdings in Vermilion Energy by 286.6% in the third quarter. PDT Partners LLC now owns 280,562 shares of the oil and gas company’s stock worth $2,741,000 after purchasing an additional 207,981 shares during the period. 31.91% of the stock is currently owned by hedge funds and other institutional investors.

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.