Vermilion Energy Inc. (NYSE:VET) Declares Dividend Increase – $0.09 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.088 per share by the oil and gas company on Tuesday, October 15th. This represents a $0.35 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Vermilion Energy’s previous quarterly dividend of $0.09.

Vermilion Energy has decreased its dividend payment by an average of 11.4% per year over the last three years. Vermilion Energy has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Vermilion Energy to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 22.9%.

Vermilion Energy Price Performance

Vermilion Energy stock traded down $0.18 during trading on Friday, hitting $9.80. 264,118 shares of the company were exchanged, compared to its average volume of 1,161,989. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $11.24 and its 200 day moving average is $11.42. Vermilion Energy has a 52 week low of $9.77 and a 52 week high of $15.98.

Vermilion Energy (NYSE:VET) (TSE:VET) last issued its earnings results on Wednesday, May 1st. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.78). The firm had revenue of $376.85 million during the quarter. Vermilion Energy had a positive return on equity of 5.76% and a negative net margin of 41.33%. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts expect that Vermilion Energy will post 1.24 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets assumed coverage on Vermilion Energy in a report on Tuesday, May 14th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.00.

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.