Bank of America Corp DE Sells 791,350 Shares of Vermilion Energy Inc. $VET

Key Points

• Bank of America cut its Vermilion Energy position by 52.9% in the first quarter, selling 791,350 shares and retaining 705,378 shares valued at approximately $9.72 million.
• Vermilion Energy reported quarterly EPS of $0.62, significantly above the $0.05 analyst consensus, while revenue of $390.53 million also exceeded expectations.
• The company declared a quarterly dividend of $0.135, equivalent to a 4.2% annualized yield. Analysts maintain a consensus “Hold” rating with a $15.00 price target.

Bank of America Corp DE decreased its position in Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 52.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 705,378 shares of the oil and gas company's stock after selling 791,350 shares during the quarter. Bank of America Corp DE owned approximately 0.46% of Vermilion Energy worth $9,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VET. Mercer Global Advisors Inc. ADV boosted its position in Vermilion Energy by 12.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,846 shares of the oil and gas company's stock valued at $99,000 after acquiring an additional 1,289 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Vermilion Energy by 5.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 26,209 shares of the oil and gas company's stock worth $218,000 after acquiring an additional 1,430 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Vermilion Energy by 251.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,397 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,714 shares during the period. State of Wyoming grew its holdings in Vermilion Energy by 24.3% in the fourth quarter. State of Wyoming now owns 8,929 shares of the oil and gas company's stock worth $74,000 after purchasing an additional 1,747 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Vermilion Energy by 3.2% during the fourth quarter. Osaic Holdings Inc. now owns 62,979 shares of the oil and gas company's stock valued at $525,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors own 31.91% of the company's stock.

Vermilion Energy Stock Performance

Shares of VET opened at $12.73 on Monday. The business has a 50-day simple moving average of $10.44 and a two-hundred day simple moving average of $11.41. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Vermilion Energy Inc. has a 52 week low of $7.10 and a 52 week high of $14.82. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -6.03 and a beta of 0.30.

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

Vermilion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 15th. Vermilion Energy's payout ratio is presently -18.48%.

Analyst Upgrades and Downgrades

VET has been the topic of several recent analyst reports. Weiss Ratings raised shares of Vermilion Energy from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday. Desjardins upgraded shares of Vermilion Energy to a "hold" rating in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Vermilion Energy in a report on Tuesday, May 19th. TD Securities reiterated a "buy" rating on shares of Vermilion Energy in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.00.

About Vermilion Energy

Vermilion Energy Inc is a Canadian-based international oil and gas producer headquartered in Calgary, Alberta. Established in 1994, the company focuses on the exploration, development and production of crude oil and natural gas reserves through its wholly owned and joint venture assets. Vermilion's upstream operations target a balance of oil and gas projects across various regions, with an emphasis on high-quality resource plays that can deliver stable cash flow and long-term reserves replacement.

Vermilion's product portfolio includes light and medium crude oil, heavy oil, natural gas and natural gas liquids (NGLs).

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