Bank of Nova Scotia Lowers Holdings in Vermilion Energy Inc. $VET

Bank of Nova Scotia trimmed its position in Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 24.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,706,052 shares of the oil and gas company's stock after selling 560,353 shares during the quarter. Bank of Nova Scotia owned 1.12% of Vermilion Energy worth $23,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VET. Mercer Global Advisors Inc. ADV boosted its position in Vermilion Energy by 12.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,846 shares of the oil and gas company's stock valued at $99,000 after purchasing an additional 1,289 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Vermilion Energy by 5.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 26,209 shares of the oil and gas company's stock valued at $218,000 after purchasing an additional 1,430 shares during the last quarter. State of Wyoming boosted its position 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 valued at $74,000 after buying an additional 1,747 shares during the last quarter. Osaic Holdings Inc. raised its holdings 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 worth $525,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Vermilion Energy by 6.0% during the 2nd quarter. Vident Advisory LLC now owns 47,694 shares of the oil and gas company's stock valued at $347,000 after buying an additional 2,691 shares during the last quarter. 31.91% of the stock is currently owned by institutional investors.

Vermilion Energy Stock Performance

Shares of VET opened at $11.26 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $10.58 and a 200 day moving average price of $11.04. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -2.95 and a beta of 0.31. Vermilion Energy Inc. has a 52-week low of $7.00 and a 52-week high of $14.82.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.67) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.89). Vermilion Energy had a negative return on equity of 2.40% and a negative net margin of 43.49%.The company had revenue of $369.04 million for the quarter, compared to analyst estimates of $368.66 million.

Vermilion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, June 15th. Vermilion Energy's payout ratio is presently -10.21%.

Analysts Set New Price Targets

A number of analysts recently issued reports on VET shares. TD Securities raised shares of Vermilion Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Zacks Research raised shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Wall Street Zen raised Vermilion Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Vermilion Energy from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Vermilion Energy in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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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