JPMorgan Chase & Co. Lowers Position in Vermilion Energy Inc. $VET

Key Points

• JPMorgan Chase reduced its stake in Vermilion Energy by 27.3% in Q3, selling 189,652 shares and now holds 504,136 shares (about 0.33% of the company) valued at roughly $3.94 million.
• Vermilion reported earnings of $0.63 per share, beating the $0.30 estimate, but revenue of $334.6 million missed expectations and the company still posted a negative net margin of -34.3%, signaling mixed financials.
• Vermilion raised its quarterly dividend to $0.135 (annualized $0.54) for a ~4.0% yield, while analyst sentiment is mixed with an average rating of "Hold" and a consensus target price of $15.00.

JPMorgan Chase & Co. cut its stake in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 504,136 shares of the oil and gas company's stock after selling 189,652 shares during the period. JPMorgan Chase & Co. owned about 0.33% of Vermilion Energy worth $3,942,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VET. Blue Trust Inc. increased its position in Vermilion Energy by 18.9% in the third quarter. Blue Trust Inc. now owns 9,249 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,471 shares during the last quarter. Savant Capital LLC grew its stake in shares of Vermilion Energy by 14.8% during the 3rd quarter. Savant Capital LLC now owns 12,989 shares of the oil and gas company's stock worth $102,000 after acquiring an additional 1,671 shares during the period. Drum Hill Capital LLC grew its stake in shares of Vermilion Energy by 0.6% during the 3rd quarter. Drum Hill Capital LLC now owns 310,043 shares of the oil and gas company's stock worth $2,425,000 after acquiring an additional 1,839 shares during the period. Vident Advisory LLC increased its holdings in Vermilion Energy by 6.0% in the 2nd quarter. Vident Advisory LLC now owns 47,694 shares of the oil and gas company's stock worth $347,000 after acquiring an additional 2,691 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Vermilion Energy by 178.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,450 shares of the oil and gas company's stock worth $47,000 after acquiring an additional 4,136 shares during the last quarter. 31.91% of the stock is owned by hedge funds and other institutional investors.

Vermilion Energy Stock Performance

Shares of VET opened at $13.35 on Friday. Vermilion Energy Inc. has a 52-week low of $5.14 and a 52-week high of $14.82. The stock's 50-day simple moving average is $11.36 and its 200 day simple moving average is $9.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.76 and a current ratio of 0.84. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -4.36 and a beta of 0.42.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last posted its earnings results on Wednesday, March 4th. The oil and gas company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.33. Vermilion Energy had a positive return on equity of 3.80% and a negative net margin of 34.30%.The business had revenue of $334.64 million during the quarter, compared to analyst estimates of $384.74 million. Research analysts forecast that Vermilion Energy Inc. will post 0.22 EPS for the current fiscal year.

Vermilion Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a dividend of $0.135 per share. This is an increase from Vermilion Energy's previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, March 13th. Vermilion Energy's dividend payout ratio is presently -12.75%.

Analyst Ratings Changes

A number of brokerages recently issued reports on VET. Zacks Research upgraded Vermilion Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. TD Securities reiterated a "hold" rating on shares of Vermilion Energy in a research note on Thursday, March 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Vermilion Energy in a research report on Wednesday, January 21st. ATB Cormark Capital Markets raised shares of Vermilion Energy from a "hold" rating to a "moderate buy" rating in a report on Friday, March 27th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Vermilion Energy in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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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