Vermilion Energy (NYSE:VET) Shares Gap Down Following Weak Earnings

Shares of Vermilion Energy Inc. (NYSE:VET) (TSE:VET) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $13.63, but opened at $12.50. Vermilion Energy shares last traded at $12.0860, with a volume of 584,142 shares trading hands.

The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.89). The firm had revenue of $369.04 million for the quarter, compared to the consensus estimate of $368.66 million. Vermilion Energy had a negative net margin of 43.49% and a negative return on equity of 2.29%.

Vermilion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.6%. Vermilion Energy’s payout ratio is currently -13.07%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VET shares. Weiss Ratings upgraded shares of Vermilion Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Vermilion Energy from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. Royal Bank Of Canada upped their target price on shares of Vermilion Energy from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 5th. ATB Cormark Capital Markets raised shares of Vermilion Energy from a “hold” rating to a “buy” rating in a report on Friday, March 27th. Finally, Scotiabank restated a “sector perform” rating on shares of Vermilion Energy in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.00.

Institutional Trading of Vermilion Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in VET. UBS Group AG lifted its position in Vermilion Energy by 118.2% during the 4th quarter. UBS Group AG now owns 5,592,890 shares of the oil and gas company’s stock valued at $46,645,000 after purchasing an additional 3,029,328 shares during the period. Mackenzie Financial Corp raised its stake in shares of Vermilion Energy by 130.2% during the fourth quarter. Mackenzie Financial Corp now owns 3,174,261 shares of the oil and gas company’s stock worth $26,483,000 after buying an additional 1,795,636 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vermilion Energy by 44.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,870,457 shares of the oil and gas company’s stock worth $67,114,000 after buying an additional 1,487,870 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Vermilion Energy by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 7,512,118 shares of the oil and gas company’s stock valued at $58,745,000 after buying an additional 1,388,489 shares during the period. Finally, LM Asset Management Inc. boosted its stake in Vermilion Energy by 28.2% in the fourth quarter. LM Asset Management Inc. now owns 3,772,600 shares of the oil and gas company’s stock valued at $31,434,000 after acquiring an additional 830,600 shares during the last quarter. 31.91% of the stock is owned by institutional investors.

Vermilion Energy Trading Down 0.5%

The business’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $10.10. The stock has a market capitalization of $1.80 billion, a P/E ratio of -3.09 and a beta of 0.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.84 and a quick ratio of 0.76.

About Vermilion Energy

Vermilion Energy Inc is a Canadian-based international oil and gas producer headquartered in Calgary, Alberta. Established in 1994, the company focuses on the exploration, development and production of crude oil and natural gas reserves through its wholly owned and joint venture assets. Vermilion’s upstream operations target a balance of oil and gas projects across various regions, with an emphasis on high-quality resource plays that can deliver stable cash flow and long-term reserves replacement.

Vermilion’s product portfolio includes light and medium crude oil, heavy oil, natural gas and natural gas liquids (NGLs).