Vermilion Energy (TSE:VET) Stock Price Down 13.8% Following Analyst Downgrade
Vermilion Energy (TSE:VET) shares fell 13.8% after CIBC downgraded its price target from C$17.00 to C$14.00. The stock traded as low as C$7.83 and closed at C$8.01, with trading volume up 102% from average levels. Other analysts also lowered their targets, with a consensus rating of "Moderate Buy" and a price target of C$16.75. The company announced a quarterly dividend increase to $0.13, yielding 6.49%.
Vermilion Energy Inc. (TSE:VET - Get Free Report) NYSE: VET shares traded down 13.8% during mid-day trading on Friday after CIBC lowered their price target on the stock from C$17.00 to C$14.00. The stock traded as low as C$7.83 and last traded at C$8.01. 1,567,002 shares changed hands during trading, an increase of 102% from the average session volume of 776,429 shares. The stock had previously closed at C$9.29.
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A number of other equities research analysts have also issued reports on VET. BMO Capital Markets lowered their target price on Vermilion Energy from C$16.00 to C$14.00 in a research note on Thursday, March 6th. Atb Cap Markets downgraded shares of Vermilion Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their target price on shares of Vermilion Energy from C$17.00 to C$16.00 and set a "sector perform" rating on the stock in a research report on Monday, December 30th. ATB Capital lowered their price target on shares of Vermilion Energy from C$20.00 to C$17.50 and set an "outperform" rating for the company in a report on Monday, December 30th. Finally, TD Securities cut their price objective on shares of Vermilion Energy from C$18.00 to C$17.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Vermilion Energy has a consensus rating of "Moderate Buy" and a consensus price target of C$16.75.
Read Our Latest Research Report on Vermilion Energy
Vermilion Energy Stock Performance
The stock's 50-day moving average price is C$11.52 and its 200-day moving average price is C$12.98. The company has a current ratio of 1.25, a quick ratio of 0.40 and a debt-to-equity ratio of 35.61. The company has a market capitalization of C$1.24 billion, a P/E ratio of -1.51, a P/E/G ratio of -0.02 and a beta of 2.60.
Vermilion Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 6.49%. This is a boost from Vermilion Energy's previous quarterly dividend of $0.12. Vermilion Energy's dividend payout ratio (DPR) is currently -9.03%.
Vermilion Energy Company Profile
(Get Free Report)Vermilion Energy Inc is an international oil and gas producing company. It engages in full-cycle exploration and production programs that focus on the acquisition, exploration, development, and optimization of producing properties in North America, Europe, and Australia. The majority of Vermilion's revenue has derived from the production and sale of petroleum and natural gas.
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