Vermilion Energy Inc. (NYSE:VET) is one of the 10 Stocks Dominating Today’s Market Action.
Vermilion Energy saw its share prices jump to a new two-year high on Thursday, as investors gobbled up shares in liquefied natural gas (LNG) producers amid the surging prices of the commodity as a result of ongoing tensions in the Middle East.
This followed a recent missile attack on Qatar’s Ras Laffan gas hubs, causing an “extensive damage,” according to the state-run energy firm.
Ras Laffan is Qatar’s main site for producing LNG, which is used for cooking, heating homes, and generating electricity. The hub is currently attributed to about a fifth of the world’s LNG supply.
The attacks sparked higher natural gas prices on the same day, with data from Trading Economics showing a jump of 1.72 percent to $3.12/MMBtu in the said commodity.
Shares of Vermilion Energy Inc. (NYSE:VET) mirrored the rally, with the stock climbing to its highest price of $14.69 before paring gains to finish the session just up by 14.35 percent at $14.42 apiece.
In other news, Vermilion Energy Inc. (NYSE:VET) is set to pay on March 31 worth $0.135 worth of dividends to all shareholders of record on March 13.
Vermilion Energy Inc. (NYSE:VET) is a Canada-based producer of natural gas, with operations located in Canada, France, the Netherlands, Australia, Germany, and Ireland.
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