Mitsubishi UFJ Trust & Banking Corp lowered its stake in Vermilion Energy Inc. (NYSE:VET – Get Rating) (TSE:VET) by 73.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,200 shares of the oil and gas company’s stock after selling 60,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Vermilion Energy were worth $702,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Covestor Ltd bought a new stake in shares of Vermilion Energy in the first quarter worth about $25,000. Clear Harbor Asset Management LLC grew its stake in shares of Vermilion Energy by 7.8% in the first quarter. Clear Harbor Asset Management LLC now owns 25,609 shares of the oil and gas company’s stock worth $538,000 after purchasing an additional 1,850 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Vermilion Energy in the second quarter worth about $46,000. Envestnet Asset Management Inc. grew its stake in shares of Vermilion Energy by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 83,614 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 3,656 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Vermilion Energy by 1.2% in the first quarter. CIBC Asset Management Inc now owns 378,732 shares of the oil and gas company’s stock worth $7,961,000 after purchasing an additional 4,496 shares during the last quarter. 24.97% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
VET has been the topic of several recent analyst reports. National Bank Financial raised their target price on Vermilion Energy from C$48.00 to C$50.00 in a research note on Friday, September 30th. Stifel Nicolaus decreased their target price on Vermilion Energy from C$47.00 to C$42.00 in a research report on Friday, November 11th. StockNews.com lowered Vermilion Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Raymond James increased their target price on Vermilion Energy from C$38.00 to C$40.00 in a research report on Friday, August 12th. Finally, Scotiabank lowered Vermilion Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, September 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Vermilion Energy presently has an average rating of “Moderate Buy” and a consensus target price of $39.33.
Vermilion Energy Stock Up 1.1 %
Vermilion Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, December 29th. Vermilion Energy’s payout ratio is 4.05%.
About Vermilion Energy
Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas in North America, Europe, and Australia. The company owns 81% working interest in 636,714 net acres of developed land and 85% working interest in 301,026 net acres of undeveloped land in Canada; 130,715 net acres of land in the Powder River basin in the United States; 96% working interest in 248,873 net acres of developed land and 86% working interest in 134,160 net acres of undeveloped land in the Aquitaine and Paris Basins in France; 53% working interest in 901,791 net acres of land in the Netherlands; 54,625 net developed acres and 920,723 net undeveloped acres in Germany; 975,375 net acres land in Croatia; 946,666 net acres land in Hungary; and 48,954 net acres land in Slovakia.
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