The Manufacturers Life Insurance Company Invests $2.30 Million in Vermilion Energy Inc. $VET

Key Points

• The Manufacturers Life Insurance Company acquired 246,710 Vermilion Energy shares worth approximately $2.3 million, while several other institutional investors also initiated positions. Institutions and hedge funds now own 31.91% of the company.
• Vermilion reported quarterly EPS of $0.62, beating the $0.05 consensus estimate, and revenue of $390.53 million versus expectations of $330.39 million. However, the company posted a negative net margin of 22.48%.
• The company declared a quarterly dividend of $0.135 per share, equivalent to $0.54 annually and a 4.1% yield. Analysts’ average rating remains Hold, with a consensus price target of $15.00 compared with the reported $13.18 share price.

The Manufacturers Life Insurance Company purchased a new stake in Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 246,710 shares of the oil and gas company's stock, valued at approximately $2,300,000. The Manufacturers Life Insurance Company owned 0.16% of Vermilion Energy as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Vermilion Energy during the 2nd quarter worth approximately $12,357,000. Clear Harbor Asset Management LLC acquired a new position in shares of Vermilion Energy in the second quarter valued at approximately $1,249,000. Bank of Nova Scotia bought a new stake in shares of Vermilion Energy during the second quarter worth $15,852,000. Quantbot Technologies LP bought a new stake in shares of Vermilion Energy during the second quarter worth $1,283,000. Finally, LM Asset Management Inc. acquired a new stake in shares of Vermilion Energy during the second quarter worth $34,468,381. Institutional investors and hedge funds own 31.91% of the company's stock.

Vermilion Energy Stock Down 0.0%

Vermilion Energy stock opened at $13.18 on Thursday. 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 1-year low of $7.10 and a 1-year high of $14.82. The company has a fifty day simple moving average of $10.87 and a 200 day simple moving average of $11.56. The company has a market cap of $2.02 billion, a P/E ratio of -6.24 and a beta of 0.33.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.05 by $0.57. The firm had revenue of $390.53 million for the quarter, compared to analysts' expectations 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 Dividend Announcement

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 issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 15th. Vermilion Energy's dividend payout ratio is presently -18.48%.

Analyst Upgrades and Downgrades

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