Mackenzie Financial Corp Increases Stake in Vermilion Energy Inc. (NYSE:VET)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Vermilion Energy Inc. by 472.0% in Q1, acquiring an additional 390,310 shares for a total of 473,001 shares, valued at approximately $3.8 million.
• Vermilion Energy reported a loss of $0.07 per share for the last quarter, missing analysts' expectations, and had a negative net margin of 1.71%.
• The company recently declared a dividend of $0.13 per share, reflecting a dividend yield of 466.0%, despite a negative dividend payout ratio of -237.50%.

Mackenzie Financial Corp grew its holdings in shares of Vermilion Energy Inc. (NYSE:VET - Free Report) TSE: VET by 472.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 473,001 shares of the oil and gas company's stock after purchasing an additional 390,310 shares during the period. Mackenzie Financial Corp owned approximately 0.31% of Vermilion Energy worth $3,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Vermilion Energy by 5.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,600 shares of the oil and gas company's stock worth $1,098,000 after buying an additional 6,518 shares during the period. Royce & Associates LP lifted its position in Vermilion Energy by 4.5% in the 1st quarter. Royce & Associates LP now owns 959,630 shares of the oil and gas company's stock valued at $7,769,000 after acquiring an additional 41,390 shares in the last quarter. Lincluden Management Ltd. increased its holdings in shares of Vermilion Energy by 4.3% in the 1st quarter. Lincluden Management Ltd. now owns 284,571 shares of the oil and gas company's stock worth $2,304,000 after buying an additional 11,708 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Vermilion Energy by 45.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 21,007 shares of the oil and gas company's stock valued at $170,000 after buying an additional 6,538 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Vermilion Energy in the 1st quarter valued at about $160,000. 31.91% of the stock is owned by institutional investors.

Vermilion Energy Price Performance

Shares of NYSE VET traded down $0.07 during midday trading on Wednesday, reaching $7.87. 507,089 shares of the stock traded hands, compared to its average volume of 1,287,318. Vermilion Energy Inc. has a one year low of $5.14 and a one year high of $10.85. The stock has a market capitalization of $1.21 billion, a PE ratio of -49.16 and a beta of 1.22. The company's 50 day moving average is $7.70 and its 200 day moving average is $7.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.71 and a quick ratio of 0.64.

Vermilion Energy (NYSE:VET - Get Free Report) TSE: VET last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.10). Vermilion Energy had a negative net margin of 1.71% and a negative return on equity of 1.22%. The business had revenue of $395.26 million during the quarter, compared to analysts' expectations of $569.00 million. On average, equities research analysts anticipate that Vermilion Energy Inc. will post 0.22 earnings per share for the current year.

Vermilion Energy Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date was Monday, June 30th. This represents a dividend yield of 466.0%. Vermilion Energy's dividend payout ratio is currently -237.50%.

Analyst Upgrades and Downgrades

VET has been the subject of a number of research reports. Desjardins raised Vermilion Energy from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. National Bankshares restated an "outperform" rating on shares of Vermilion Energy in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

About Vermilion Energy

Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas. The company has properties in West Central Alberta, southeast Saskatchewan, Manitoba, and West Pembina in Canada; Wyoming in the United States; southwest Bordeaux and Paris Basin in France; the Netherlands; Germany; Ireland; Croatia; Slovakia; and Australia.