Spark Investment Management LLC Decreases Stock Position in Vermilion Energy Inc. $VET

Spark Investment Management LLC decreased its holdings in shares of Vermilion Energy Inc. (NYSE:VET) (TSE:VET) by 36.5% in the 2nd quarter, Holdings Channel reports. The fund owned 181,000 shares of the oil and gas company’s stock after selling 104,000 shares during the period. Vermilion Energy accounts for 3.3% of Spark Investment Management LLC’s investment portfolio, making the stock its 9th largest holding. Spark Investment Management LLC’s holdings in Vermilion Energy were worth $1,692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VET. TD Waterhouse Canada Inc. boosted its stake in shares of Vermilion Energy by 127.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 107,717 shares of the oil and gas company’s stock valued at $1,009,000 after purchasing an additional 60,415 shares in the last quarter. Aegis Financial Corp increased its position in Vermilion Energy by 27.3% during the 2nd quarter. Aegis Financial Corp now owns 3,260,428 shares of the oil and gas company’s stock worth $30,499,000 after purchasing an additional 700,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Vermilion Energy in the 2nd quarter valued at approximately $2,116,000. Bank of America Corp DE acquired a new stake in Vermilion Energy in the second quarter valued at approximately $8,129,000. Finally, Man Group plc acquired a new stake in Vermilion Energy in the second quarter valued at approximately $8,039,000. Institutional investors own 31.91% of the company’s stock.

Vermilion Energy Trading Up 1.5%

Shares of VET stock traded up $0.20 during trading hours on Tuesday, hitting $13.04. 881,514 shares of the company’s stock traded hands, compared to its average volume of 1,825,285. The stock’s 50 day simple moving average is $11.08 and its 200 day simple moving average is $11.62. The stock has a market cap of $1.99 billion, a PE ratio of -6.17 and a beta of 0.33. Vermilion Energy Inc. has a 12 month low of $7.10 and a 12 month 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.

Vermilion Energy (NYSE:VET) (TSE:VET) last issued 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. The company 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.54 annualized dividend and a yield of 4.1%. Vermilion Energy’s payout ratio is presently -18.48%.

Analyst Ratings Changes

A number of brokerages have recently commented on VET. Zacks Research upgraded Vermilion Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Desjardins upgraded Vermilion Energy to a “hold” rating in a research report on Thursday, July 16th. TD Securities reaffirmed a “buy” rating on shares of Vermilion Energy in a report on Friday, July 31st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Vermilion Energy in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised Vermilion Energy from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 20th. 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 company. Based on data from MarketBeat.com, Vermilion Energy has a consensus rating of “Hold” and an average 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).