Zacks Investment Research Upgrades Vermilion Energy (VET) to “Buy”

Zacks Investment Research upgraded shares of Vermilion Energy (NYSE:VET) (TSE:VET) from a strong sell rating to a buy rating in a report issued on Friday. The brokerage currently has $38.00 target price on the oil and gas company’s stock.

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. “

Several other equities analysts also recently issued reports on VET. ValuEngine raised shares of Vermilion Energy from a sell rating to a hold rating in a report on Wednesday, April 11th. JPMorgan Chase started coverage on shares of Vermilion Energy in a report on Monday, February 12th. They set an overweight rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $47.50.

Shares of NYSE VET opened at $34.02 on Friday. Vermilion Energy has a 1 year low of $29.91 and a 1 year high of $40.59. The firm has a market cap of $4,280.23, a P/E ratio of 66.71 and a beta of 0.70. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.83.

Vermilion Energy (NYSE:VET) (TSE:VET) last announced its quarterly earnings results on Thursday, March 1st. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.12). Vermilion Energy had a return on equity of 4.92% and a net margin of 5.32%. The firm had revenue of $249.88 million for the quarter, compared to analysts’ expectations of $244.23 million. research analysts anticipate that Vermilion Energy will post 1.08 EPS for the current year.

The business also recently disclosed a dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 30th were issued a dividend of $0.168 per share. The ex-dividend date was Wednesday, March 28th. Vermilion Energy’s payout ratio is 394.12%.

A number of institutional investors and hedge funds have recently bought and sold shares of VET. The Manufacturers Life Insurance Company lifted its stake in shares of Vermilion Energy by 341.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,609,594 shares of the oil and gas company’s stock worth $58,460,000 after buying an additional 1,244,614 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Vermilion Energy in the fourth quarter worth about $29,252,000. Swiss National Bank lifted its stake in shares of Vermilion Energy by 1.8% in the fourth quarter. Swiss National Bank now owns 443,400 shares of the oil and gas company’s stock worth $16,126,000 after buying an additional 7,700 shares in the last quarter. AGF Investments Inc. lifted its stake in shares of Vermilion Energy by 12.1% in the fourth quarter. AGF Investments Inc. now owns 897,437 shares of the oil and gas company’s stock worth $32,613,000 after buying an additional 96,841 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Vermilion Energy in the fourth quarter worth about $1,617,000. 55.66% of the stock is currently owned by institutional investors and hedge funds.

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About Vermilion Energy

Vermilion Energy Inc acquires, explores, develops, and produces crude petroleum and natural gas. As of December 31, 2017, it owned 74% interest in 330,900 net acres of developed land and 87% interest in 376,400 net acres of undeveloped land, as well as 375 net producing natural gas wells and 475 net producing oil wells in Canada; and 96% interest in 208,900 net acres of developed land and 99% interest in 379,800 net acres of undeveloped land in the Aquitaine and Paris Basins, as well as 332 net producing oil wells and 3 net producing gas wells in France.

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