Vermilion Energy (TSE:VET) Stock Price Down 14% on Analyst Downgrade

Vermilion Energy Inc. (TSE:VET) (NYSE:VET)’s stock price traded down 14% on Thursday 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$7.99. 964,774 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 763,257 shares. The stock had previously closed at C$9.29.

Several other research firms have also weighed in on VET. Desjardins lowered shares of Vermilion Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$19.00 to C$14.00 in a research note on Wednesday, March 19th. ATB Capital lowered their price target on Vermilion Energy from C$20.00 to C$17.50 and set an “outperform” rating on the stock in a research report on Monday, December 30th. TD Securities cut their price target on Vermilion Energy from C$18.00 to C$17.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada decreased their price objective on shares of Vermilion Energy from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Monday, December 30th. Finally, BMO Capital Markets dropped their price objective on shares of Vermilion Energy from C$16.00 to C$14.00 in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Vermilion Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$16.75.

Vermilion Energy Price Performance

The firm has a market capitalization of C$1.31 billion, a price-to-earnings ratio of -1.59, a P/E/G ratio of -0.02 and a beta of 2.60. The company’s 50 day moving average is C$11.42 and its 200 day moving average is C$12.95. The company has a quick ratio of 0.40, a current ratio of 1.25 and a debt-to-equity ratio of 35.61.

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 given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Monday, March 31st. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.12. Vermilion Energy’s dividend payout ratio is presently -9.03%.

About Vermilion Energy

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.