Spark Investment Management LLC Sells 104,000 Shares of Vermilion Energy Inc. $VET

Key Points

• Spark Investment Management cut its Vermilion Energy stake by 36.5%, selling 104,000 shares and retaining 181,000 shares worth approximately $1.69 million at quarter-end.
• Other institutional investors increased exposure, including Mackenzie Financial, Lazard Asset Management and several firms initiating new positions; institutional investors and hedge funds collectively own 31.91% of the stock.
• Vermilion reported quarterly earnings of $0.62 per share, well above the $0.05 consensus estimate, and revenue of $390.5 million. Analysts maintain a consensus “Hold” rating with an average price target of $15, while the company declared a quarterly dividend of $0.135 per share.

Spark Investment Management LLC decreased its holdings in Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 36.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,000 shares of the oil and gas company's stock after selling 104,000 shares during the period. Vermilion Energy comprises approximately 3.3% of Spark Investment Management LLC's investment portfolio, making the stock its 9th biggest holding. Spark Investment Management LLC owned approximately 0.12% of Vermilion Energy worth $1,692,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. LM Asset Management Inc. bought a new position in shares of Vermilion Energy during the 2nd quarter worth approximately $34,468,381. Arrowstreet Capital Limited Partnership acquired a new stake in Vermilion Energy during the 1st quarter valued at $31,144,000. Mackenzie Financial Corp lifted its holdings in Vermilion Energy by 130.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,174,261 shares of the oil and gas company's stock valued at $26,483,000 after purchasing an additional 1,795,636 shares during the last quarter. Bank of Nova Scotia bought a new position in Vermilion Energy during the second quarter worth $15,852,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Vermilion Energy by 7,879.7% in the first quarter. Lazard Asset Management LLC now owns 1,513,981 shares of the oil and gas company's stock valued at $20,867,000 after purchasing an additional 1,495,008 shares during the last quarter. 31.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Vermilion Energy from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. Desjardins raised shares of Vermilion Energy to a "hold" rating in a report on Thursday, July 16th. Wall Street Zen upgraded Vermilion Energy from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 1st. Zacks Research raised Vermilion Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Vermilion Energy in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Vermilion Energy has a consensus rating of "Hold" and an average target price of $15.00.

Vermilion Energy Price Performance

Shares of NYSE:VET traded up $0.20 during trading on Tuesday, reaching $13.04. 881,514 shares of the company traded hands, compared to its average volume of 1,825,285. The firm has a market capitalization of $1.99 billion, a PE ratio of -6.17 and a beta of 0.33. Vermilion Energy Inc. has a 52 week low of $7.10 and a 52 week high of $14.82. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company's 50 day moving average is $11.08 and its two-hundred day moving average is $11.62.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.62 earnings per share for the quarter, topping 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 analysts' expectations of $330.39 million.

Vermilion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Vermilion Energy's dividend payout ratio (DPR) is -18.48%.

Vermilion Energy Company 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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