Bullish Prospects For Vermilion Energy Inc. (NYSE: VET) Shares In 2022

Vermilion Energy Inc. (NYSE:VET) price on Wednesday, August 17, rose 1.67% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $25.02.

A look at the stock’s price movement, the level at last check in today’s session was $24.61, moving within a range at $23.92 and $24.8722. The beta value (5-Year monthly) was 3.32 while the PE ratio in trailing twelve months stood at 4.42. Turning to its 52-week performance, $26.77 and $5.51 were the 52-week high and 52-week low respectively. Overall, VET moved 8.56% over the past month.

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Vermilion Energy Inc.’s market cap currently stands at around $5.34 billion, with investors looking forward to this quarter’s earnings report slated for Nov 07, 2022 – Nov 11, 2022. The company has a Forward Dividend ratio of 0.24, with its dividend yield at 0.98%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.

Analysts have a consensus estimate of $645.29 million for the company’s revenue for the quarter, with a low and high estimate of $645.29 million and $645.29 million respectively. The average forecast suggests up to a 55.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $2.5 billion, representing a 58.00% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that VET is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 6 recommend VET as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 0.21, with VET’s current price about 3.90% and 13.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.24, while 7-day volatility ratio is 5.72% and 5.42% in the 30-day chart. Further, Vermilion Energy Inc. (VET) has a beta value of 3.32, and an average true range (ATR) of 1.46. Analysts have given the company’s stock an average 52-week price target of $31.50, forecast between a low of $18.62 and high of $40.63. Looking at the price targets, the low is 25.58% off recent price level in today’s trading while to achieve the yearly target high, it has to move -62.39%. Nonetheless, investors will most likely welcome a -24.9% jump to $31.25 which is the analysts’ median price.

In the market, a comparison of Vermilion Energy Inc. (VET) and its peers suggest the former has performed considerably stronger. Data shows VET’s intraday price has changed 1.67% today and 295.66% over the past year. Comparatively, Enerplus Corporation (ERF) has moved 2.15% so far today and only 168.47% in the past 12 months. Looking at another peer, we see that Imperial Oil Limited (IMO) price has gained 1.55% on the day. However, the stock is 77.55% off its price today a year ago. Moreover, Canadian Natural Resources Limited (CNQ) is also up 1.80% in today’s trading while keeping a an uptrend of 71.38% over the past year. If we look at the PE ratio, we find that Vermilion Energy Inc.’s ratio stands at 4.42 compared to Enerplus Corporation’s 6.56 and Imperial Oil Limited’s 81.76. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.12% and -0.24% respectively on the day as seen in early trades.

If we refocus on Vermilion Energy Inc. (NYSE:VET), historical trading data shows that trading volumes averaged 2.66 million over the past 10 days and 2.77 million over the past 3 months. The company’s latest data on shares outstanding shows there are 164.52 million shares.

The 1.91% of Vermilion Energy Inc.’s shares are in the hands of company insiders while institutional holders own 31.32% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.62 million on Jul 28, 2022, giving us a short ratio of 1.34. The data shows that as of Jul 28, 2022 short interest in Vermilion Energy Inc. (VET) stood at 2.19% of shares outstanding, with shares short falling to 3.85 million registered in Jun 29, 2022. Current price change has pushed the stock 95.47% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the VET stock continues to rise going into the next quarter.

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