Vermilion Energy Inc T.VET

scotia

[caretired1]

Maintained 12 month target price at $20 after earnings release

[caretired1]

JP Morgan’s Arun Jayaram cut his Vermilion Energy Inc. ( VET-T -5.01%decrease   ) target to $21 from $23 with an “overweight” rating. Other changes include: Canaccord Genuity’s Mike Mueller to $20 from $22.50 with a “buy” rating and RBC’s Greg Pardy to $20 from $23 with a “sector perform” rating. The average is $20.63. Per Globe and Mail

[GregC24]

And said the following: Latest Research (March 07, 2024):OUR TAKE: Negative. Q4/23 CFPS beat consensus by 19% largely due to lower taxes. Minimal cash taxes/windfall taxes were recorded in Q4/23 because the taxes recorded in Q1-Q3/23 captured VET’s 2023 tax liability. Excluding lower taxes, VET’s Q4/23 CFPS beat consensus by 5%. 1P and 2P reserves decreased by 14% and 18% y/y, respectively, due

[caretired1]

Sector perform rating

[Quintessential1]

If they do that is a promise kept. The company indicated that 50% of its excess free cash flow would be returned to shareholders for all of 2024 instead of Q2/24 onwards GLTA