#cash #bullish #buy
Vermillion Energy Inc. (NYSE: VET) broke out on 1 February at 4.53 and confirmed on 10 March at 8.40. Thus, garnering an LTN Cash Pile Buy rating with a 1 yr price target at 42.17. The 52-wk range is 1.50 – 8.80.
The stock is currently trading pre-market Thursday at 8.82. The Street’s consensus target is 42.50/share
Our overall technical analysis for VET is Very Bullish across the board. The support is deep there is no overhead resistance, + all off or Key technical indicators are Very Bullish and as you can see from the chart below the trend is due North
Vermilion Energy Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and nat gas in North America, Europe, and Australia.
It owns 81% working interest in 642,300 net acres of developed land and 87% working interest in 376,700 net acres of undeveloped land, and 613 net producing natural gas wells and 3,034 net producing oil wells in Canada; and 96% working interest in 248,900 net acres of developed land and 91% working interest in 222,100 net acres of undeveloped land in the Aquitaine and Paris Basins, and 325 net producing oil wells and 3.0 net producing gas wells in France.
The company also owns 49% working interest in 930,000 net acres of land and 51 net producing nat gas wells in the Netherlands; and 36,900 net developed acres and 965,900 net undeveloped acres of land, and 61 net producing oil wells and 8 net producing nat gas wells in Germany.
In addition, it owns offshore Corrib nat gas field located to the northwest coast of Ireland; and 100% working interest in the Wandoo offshore oil field and related production assets that covers 59,600 acres located on Western Australia’s northwest shelf.
Further, the company holds 138,000 net acres of land in the Powder River basin, and 136.6 net producing oil wells in the United States; and 951,200 net acres of land in Hungary, 244,900 net acres of land in Slovakia, and 2.4-M net acres of land in Croatia.
Vermilion Energy Inc. was founded in Y 1994 and is HQ’d in Calgary, Canada.
Have a healthy day, Keep the Faith!