Bank of Nova Scotia Invests $15.85 Million in Vermilion Energy Inc. $VET

Key Points

• Bank of Nova Scotia acquired 1.69 million Vermilion Energy shares worth approximately $15.85 million, giving it about a 1.11% stake. Institutional investors collectively own 31.91% of the company.
• Vermilion reported quarterly EPS of $0.62, significantly exceeding the $0.05 analyst estimate, while revenue reached $390.53 million versus expectations of $330.39 million.
• The company declared a quarterly dividend of $0.135 per share, equivalent to an annualized $0.54 payout and a 4.3% yield. Analysts have a consensus “Hold” rating and an average price target of $15.00.

Bank of Nova Scotia acquired a new stake in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,694,288 shares of the oil and gas company's stock, valued at approximately $15,852,000. Bank of Nova Scotia owned about 1.11% of Vermilion Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LM Asset Management Inc. purchased a new stake in Vermilion Energy in the second quarter worth about $34,468,381,000. UBS Group AG raised its stake in Vermilion Energy by 118.2% during the 4th quarter. UBS Group AG now owns 5,592,890 shares of the oil and gas company's stock worth $46,645,000 after acquiring an additional 3,029,328 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Vermilion Energy during the first quarter valued at approximately $31,144,000. Mackenzie Financial Corp lifted its holdings in Vermilion Energy by 130.2% during the fourth quarter. Mackenzie Financial Corp now owns 3,174,261 shares of the oil and gas company's stock valued at $26,483,000 after purchasing an additional 1,795,636 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Vermilion Energy by 7,879.7% in the first quarter. Lazard Asset Management LLC now owns 1,513,981 shares of the oil and gas company's stock worth $20,867,000 after purchasing an additional 1,495,008 shares during the period. Institutional investors own 31.91% of the company's stock.

Vermilion Energy Price Performance

Shares of Vermilion Energy stock opened at $12.54 on Tuesday. The firm has a market cap of $1.92 billion, a PE ratio of -5.94 and a beta of 0.30. The stock has a 50 day moving average of $10.47 and a 200 day moving average of $11.43. 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.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.57. The business had revenue of $390.53 million for the quarter, compared to the consensus estimate 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.3%. Vermilion Energy's dividend payout ratio is presently -18.48%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VET shares. Zacks Research upgraded shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. TD Securities restated a "buy" rating on shares of Vermilion Energy in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Vermilion Energy in a research note on Tuesday, May 19th. Wall Street Zen raised Vermilion Energy from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Desjardins upgraded Vermilion Energy to a "hold" rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.00.

Vermilion Energy Profile

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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