LM Asset Management Inc. Makes New $34.47 Billion Investment in Vermilion Energy Inc. $VET

Key Points

• LM Asset Management purchased 3.691 million Vermilion Energy shares valued at approximately $34.47 billion, making the position 21.4% of its portfolio and about 2.41% of Vermilion’s outstanding stock.
• Vermilion reported quarterly EPS of $0.62, significantly exceeding the $0.05 analyst consensus, while revenue of $390.53 million also topped estimates. The stock recently traded at $12.84, up 2.2%.
• The company declared a quarterly dividend of $0.135 per share, or $0.54 annually, representing a 4.2% yield. Analysts maintain a consensus “Hold” rating with a $15 target price.

LM Asset Management Inc. purchased a new position in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,691,000 shares of the oil and gas company's stock, valued at approximately $34,468,381,000. Vermilion Energy comprises approximately 21.4% of LM Asset Management Inc.'s portfolio, making the stock its 2nd biggest holding. LM Asset Management Inc. owned approximately 2.41% of Vermilion Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VET. Mercer Global Advisors Inc. ADV increased its stake in shares of Vermilion Energy by 12.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,846 shares of the oil and gas company's stock worth $99,000 after purchasing an additional 1,289 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Vermilion Energy by 5.8% during the fourth 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Vermilion Energy by 251.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,397 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 1,714 shares during the period. State of Wyoming grew its holdings 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 valued at $74,000 after purchasing an additional 1,747 shares during the period. Finally, Osaic Holdings Inc. increased its position in Vermilion Energy by 3.2% in the fourth quarter. Osaic Holdings Inc. now owns 62,979 shares of the oil and gas company's stock worth $525,000 after buying an additional 1,950 shares in the last quarter. Institutional investors own 31.91% of the company's stock.

Vermilion Energy Stock Up 2.2%

NYSE VET opened at $12.84 on Friday. The stock's 50 day moving average is $10.40 and its 200 day moving average is $11.39. 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 $7.07 and a 12 month high of $14.82. The stock has a market cap of $1.96 billion, a PE ratio of -6.08 and a beta of 0.30.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last announced its quarterly earnings data 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 business 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 5.26%.

Vermilion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given 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 dividend yield of 4.2%. Vermilion Energy's dividend payout ratio is currently -18.48%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings downgraded Vermilion Energy from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Vermilion Energy from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Royal Bank Of Canada reissued a "sector perform" rating on shares of Vermilion Energy in a report on Tuesday, May 19th. Zacks Research raised shares of Vermilion Energy from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, TD Securities reiterated a "buy" rating on shares of Vermilion Energy in a research report on Friday, July 31st. Two research 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.

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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