Vermilion Energy Sells Stake in Coelacanth to Reduce Debt

Vermilion Energy ( (TSE:VET) ) has provided an update.

Vermilion Energy Inc. announced the sale of 26 million common shares of Coelacanth Energy Inc. to reduce its debt and enhance its financial resilience. This transaction decreased Vermilion’s ownership in Coelacanth from 15% to 10.2%, signaling its strategic focus on bolstering business stability while maintaining flexibility in its investment portfolio. The sale is aligned with the company’s fiscal priorities, and Vermilion emphasized its ongoing review of future market and industry conditions for potential adjustments in its holdings.

The most recent analyst rating on (TSE:VET) stock is a Hold with a C$14.00 price target. To see the full list of analyst forecasts on Vermilion Energy stock, see the TSE:VET Stock Forecast page.

Spark’s Take on TSE:VET Stock

According to Spark, TipRanks’ AI Analyst, TSE:VET is a Neutral.

Vermilion Energy’s overall stock score is driven by a positive earnings call and technical analysis, indicating potential for growth and improved market sentiment. However, financial performance and valuation concerns due to negative earnings and profitability challenges weigh on the score. The attractive dividend yield and strategic initiatives provide some balance.

To see Spark’s full report on TSE:VET stock, click here.

More about Vermilion Energy

Vermilion Energy Inc. is a global gas producer specializing in liquids-rich natural gas in Canada and conventional natural gas in Europe, while also optimizing low-decline oil assets. The company focuses on safety, environmental protection, and profitability, leveraging a diversified portfolio to benefit from global commodity prices.

Average Trading Volume: 959,783

Technical Sentiment Signal: Sell

Current Market Cap: C$1.7B

For an in-depth examination of VET stock, go to TipRanks’ Overview page.