Flax Pond Capital LLC Decreases Position in Vermilion Energy Inc. $VET

Key Points

• Flax Pond Capital cut its Vermilion Energy stake by 52.3% in the first quarter, selling 151,000 shares and retaining 137,700 shares worth approximately $1.9 million. Institutional investors collectively own 31.91% of the company.
• Analyst sentiment remains mixed but has improved, with TD Securities upgrading VET to “strong buy.” The stock carries an average “hold” rating and a consensus price target of $15.00.
• Vermilion Energy exceeded quarterly expectations, reporting $0.62 in EPS versus estimates of $0.05 and revenue of $390.53 million. The company also declared a quarterly dividend of $0.135 per share, representing a 4.7% annualized yield.

Flax Pond Capital LLC trimmed its stake in Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 52.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,700 shares of the oil and gas company's stock after selling 151,000 shares during the period. Vermilion Energy makes up about 1.5% of Flax Pond Capital LLC's portfolio, making the stock its 25th biggest position. Flax Pond Capital LLC owned about 0.09% of Vermilion Energy worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Vermilion Energy by 251.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,397 shares of the oil and gas company's stock valued at $33,000 after buying an additional 1,714 shares during the period. Tower Research Capital LLC TRC boosted its stake in Vermilion Energy by 178.7% during the second quarter. Tower Research Capital LLC TRC now owns 6,450 shares of the oil and gas company's stock worth $47,000 after buying an additional 4,136 shares during the period. State of Wyoming boosted its stake in Vermilion Energy by 24.3% during the fourth quarter. State of Wyoming now owns 8,929 shares of the oil and gas company's stock worth $74,000 after buying an additional 1,747 shares during the period. LPL Financial LLC bought a new position in Vermilion Energy during the fourth quarter valued at $92,000. Finally, Mercer Global Advisors Inc. ADV increased 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 acquiring an additional 1,289 shares during the last quarter. Hedge funds and other institutional investors own 31.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VET. TD Securities upgraded shares of Vermilion Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Zacks Research upgraded shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Desjardins raised shares of Vermilion Energy to a "hold" rating in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Vermilion Energy in a research note on Tuesday, May 19th. Finally, Scotiabank restated a "sector perform" rating on shares of Vermilion Energy in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vermilion Energy presently has an average rating of "Hold" and an average target price of $15.00.

Vermilion Energy Stock Performance

VET stock opened at $11.49 on Friday. Vermilion Energy Inc. has a twelve month low of $7.00 and a twelve month high of $14.82. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -5.44 and a beta of 0.31. The business's fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $11.13. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.64.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.57. The firm had revenue of $390.53 million during the quarter, compared to analyst estimates of $330.39 million. Vermilion Energy had a negative net margin of 22.48% and a positive return on equity of 5.17%.

Vermilion Energy Announces Dividend

The business 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 dividend of $0.135 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.7%. Vermilion Energy's dividend payout ratio (DPR) is presently -10.21%.

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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