BMO Capital Markets on Thursday maintained its market-perform rating on the shares of Vermilion Energy (VET.TO, VET) and its C$14.00 price target following fourth-quarter results from the oil and gas producer.
"Vermilion has seen plenty of share price volatility as uncertainties surrounding European gas prices, regulation, and exploration success all weigh on investor risk appetite. Despite these headwinds, VET remains steadfast in a balanced approach to shareholder returns, debt repayment, and growth. With Q4, FFO/sh was in-line, with guidance tightened with Westbrick closing. The company also highlighted its Wisselshorst test well, showing encouraging rates and having the potential to be one of VET's largest discoveries in Europe. Nevertheless, with current leverage, we are lowering our target given market volatility," analyst Jeremy McCrea wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 10.61, Change: -0.29, Percent Change: -2.66
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