867,515 Shares in Vermilion Energy Inc. $VET Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 867,515 Vermilion Energy shares in the second quarter, worth approximately $8.1 million and representing about 0.57% of the company.
• Other institutional investors also increased their positions, bringing institutional and hedge-fund ownership to 31.91% of Vermilion Energy.
• Vermilion reported quarterly EPS of $0.62, well above the $0.05 consensus estimate, while analysts maintain a consensus “Hold” rating and an average price target of $15.00; the company also declared a quarterly dividend of C$0.14.

Bank of America Corp DE bought a new position in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 867,515 shares of the oil and gas company's stock, valued at approximately $8,129,000. Bank of America Corp DE owned approximately 0.57% of Vermilion Energy as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of VET. Canada Pension Plan Investment Board acquired a new stake in Vermilion Energy in the second quarter valued at $1,100,000. The Manufacturers Life Insurance Company acquired a new position in shares of Vermilion Energy during the 2nd quarter worth approximately $2,300,000. First Trust Advisors LP increased its holdings in shares of Vermilion Energy by 36.6% during the 1st quarter. First Trust Advisors LP now owns 947,444 shares of the oil and gas company's stock worth $13,056,000 after acquiring an additional 253,681 shares during the last quarter. Man Group plc bought a new stake in Vermilion Energy in the 2nd quarter valued at $8,039,000. Finally, Lazard Asset Management LLC raised its stake in Vermilion Energy by 7,879.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,513,981 shares of the oil and gas company's stock valued at $20,867,000 after acquiring an additional 1,495,008 shares during the period. 31.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VET has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Vermilion Energy from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Desjardins upgraded shares of Vermilion Energy to a "hold" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Vermilion Energy from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 20th. TD Securities reaffirmed a "buy" rating on shares of Vermilion Energy in a report on Friday, July 31st. Finally, Zacks Research upgraded Vermilion Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.00.

Vermilion Energy Stock Down 2.3%

Shares of VET opened at $11.60 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63. Vermilion Energy Inc. has a 12 month low of $7.10 and a 12 month high of $14.82. The firm's 50 day moving average is $11.98 and its 200-day moving average is $11.78. The stock has a market capitalization of $1.77 billion, a PE ratio of -5.49 and a beta of 0.33.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.57. The business had revenue of $390.53 million during the quarter, compared to analysts' expectations of $330.39 million. Vermilion Energy had a positive return on equity of 5.26% and a negative net margin of 22.48%.

Vermilion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a C$0.14 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. Vermilion Energy's dividend payout ratio (DPR) is -18.48%.

Vermilion Energy Company Profile

Vermilion Energy Inc is an international oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on acquiring, exploring, developing and producing crude oil, natural gas, condensate and natural gas liquids, with an emphasis on operating assets in stable jurisdictions and generating production from conventional and resource plays.

Vermilion's operations have included properties in Canada and the United States, as well as European and other international markets such as France, the Netherlands, Germany, Croatia and Ireland.

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