Vermilion Energy (NYSE:VET) Lowered to “Market Perform” at BMO Capital Markets

BMO Capital Markets cut shares of Vermilion Energy (NYSE:VET) (TSE:VET) from an outperform rating to a market perform rating in a research report released on Friday morning, MarketBeat Ratings reports.

Vermilion Energy Price Performance

Vermilion Energy stock traded down $0.15 during mid-day trading on Friday, hitting $10.31. 1,777,791 shares of the company were exchanged, compared to its average volume of 1,157,599. The company has a market capitalization of $1.64 billion, a PE ratio of -3.71 and a beta of 1.99. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $9.85 and a 200 day moving average of $11.06. Vermilion Energy has a 1-year low of $8.70 and a 1-year high of $15.56.

Vermilion Energy (NYSE:VET) (TSE:VET) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.69). The business had revenue of $350.04 million for the quarter, compared to analyst estimates of $376.54 million. Vermilion Energy had a negative net margin of 41.33% and a positive return on equity of 5.99%. As a group, sell-side analysts expect that Vermilion Energy will post 0.35 earnings per share for the current year.

Vermilion Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a $0.088 dividend. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 27th. This represents a $0.35 annualized dividend and a dividend yield of 3.41%. Vermilion Energy’s payout ratio is -12.59%.

Hedge Funds Weigh In On Vermilion Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted 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 worth $41,000 after purchasing an additional 3,674 shares during the period. Marshall Wace LLP acquired a new position in shares of Vermilion Energy during the 2nd quarter worth approximately $122,000. HBK Sorce Advisory LLC acquired a new stake in shares of Vermilion Energy during the 1st quarter worth approximately $127,000. Bank of Nova Scotia Trust Co. boosted its position in Vermilion Energy by 15.8% in the first quarter. Bank of Nova Scotia Trust Co. now owns 11,650 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 1,593 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new position in shares of Vermilion Energy during the second quarter valued at $182,000. Institutional investors and hedge funds 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.