Legal & General Group Plc Makes New $1.81 Million Investment in Vermilion Energy Inc. $VET

Key Points

• Legal & General Group Plc purchased 193,685 Vermilion Energy shares worth approximately $1.81 million, while several other institutional investors also established new positions. Institutional ownership now stands at 31.91%.
• Analyst sentiment remains mixed but leans toward caution, with Vermilion receiving a consensus “Hold” rating and a $15.00 target price. The stock recently traded at $12.85.
• Vermilion’s latest quarterly results exceeded expectations, reporting $0.62 in earnings per share versus a $0.05 estimate and $390.53 million in revenue. The company also declared a quarterly dividend of $0.135 per share, yielding approximately 4.2% annually.

Legal & General Group Plc purchased a new stake in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 193,685 shares of the oil and gas company's stock, valued at approximately $1,812,000. Legal & General Group Plc owned approximately 0.13% of Vermilion Energy at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company bought a new stake in shares of Vermilion Energy during the 2nd quarter valued at $2,300,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Vermilion Energy in the 2nd quarter worth $12,357,000. Clear Harbor Asset Management LLC purchased a new stake in Vermilion Energy in the 2nd quarter worth $1,249,000. Bank of Nova Scotia bought a new stake in Vermilion Energy during the second quarter valued at about $15,852,000. Finally, Quantbot Technologies LP purchased a new position in shares of Vermilion Energy in the second quarter valued at about $1,283,000. 31.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded Vermilion Energy from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. Desjardins upgraded shares of Vermilion Energy to a "hold" rating in a research report on Thursday, July 16th. TD Securities reissued a "buy" rating on shares of Vermilion Energy in a report on Friday, July 31st. Zacks Research raised shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Vermilion Energy in a report on Tuesday, May 19th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vermilion Energy has a consensus rating of "Hold" and a consensus target price of $15.00.

Vermilion Energy Trading Up 0.1%

VET stock opened at $12.85 on Monday. The firm has a fifty day moving average price of $11.01 and a 200 day moving average price of $11.60. Vermilion Energy Inc. has a fifty-two week low of $7.10 and a fifty-two week high of $14.82. The firm has a market cap of $1.97 billion, a PE ratio of -6.08 and a beta of 0.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 1.00.

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 EPS for the quarter, beating the consensus estimate 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 business had revenue of $390.53 million during the quarter, compared to analyst estimates of $330.39 million.

Vermilion Energy Announces Dividend

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

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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