Vermilion Energy (NYSE:VET) Stock Price Down 2.4% – Here’s Why

Vermilion Energy Inc. (NYSE:VET) (TSE:VET)’s stock price dropped 2.4% on Thursday . The stock traded as low as $8.87 and last traded at $8.90. Approximately 326,283 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,149,358 shares. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut Vermilion Energy from an “outperform” rating to a “market perform” rating in a research report on Friday, October 4th.

Vermilion Energy Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 1.19. The firm has a market cap of $1.38 billion, a P/E ratio of -2.38 and a beta of 1.99. The company’s 50-day moving average is $9.71 and its two-hundred day moving average is $10.11.

Vermilion Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.089 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Vermilion Energy’s previous quarterly dividend of $0.09. Vermilion Energy’s dividend payout ratio (DPR) is currently -9.36%.

Institutional Trading of Vermilion Energy

Several institutional investors and hedge funds have recently modified their holdings of VET. The Manufacturers Life Insurance Company lifted its holdings in shares of Vermilion Energy by 345.4% in the third quarter. The Manufacturers Life Insurance Company now owns 592,839 shares of the oil and gas company’s stock worth $5,790,000 after acquiring an additional 459,746 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Vermilion Energy in the 3rd quarter valued at approximately $1,947,000. Verition Fund Management LLC acquired a new stake in Vermilion Energy in the third quarter valued at approximately $555,000. Two Sigma Advisers LP grew its stake in shares of Vermilion Energy by 72.8% during the third quarter. Two Sigma Advisers LP now owns 1,040,076 shares of the oil and gas company’s stock worth $10,162,000 after buying an additional 438,200 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in shares of Vermilion Energy during the third quarter worth $6,001,000. 31.91% of the stock is currently owned by institutional investors.

About Vermilion Energy

Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas. The company has properties in West Central Alberta, southeast Saskatchewan, Manitoba, and West Pembina in Canada; Wyoming in the United States; southwest Bordeaux and Paris Basin in France; the Netherlands; Germany; Ireland; Croatia; Slovakia; and Australia.