VET - Why Shares of Vermilion Energy Fell More Than 20% in August
Shares of Canadian oil and gas producer Vermilion Energy (NYSE: VET) fell 20.6% in August, according to data provided by S&P Global Market Intelligence. While many U.S. oil and gas companies also saw double-digit share price declines in August, Vermilion's drop was one of the worst in the sector.
Oil prices fell in August, by around 5%. When oil prices fall, production companies are often the first and the hardest to be hit. But Vermilion's 20.6% drop was much steeper than the drop in oil.
Vermilion Energy hopes it can continue to outperform while funding both growth projects and its dividend. Image source: Getty Images.