Vermilion Energy (NYSE:VET) Share Price Crosses Below Two Hundred Day Moving Average on Disappointing Earnings

Key Points

• Vermilion Energy missed quarterly earnings expectations, reporting a loss of C$0.16 per share versus analysts’ forecast of earnings of C$0.27 per share.
• Shares fell below their 200-day moving average of $11.62, reaching a low of $10.60 and last trading at $10.755.
• The company declared a quarterly dividend of C$0.14, equivalent to an annualized yield of about 5%; analysts’ consensus rating is “Hold,” with an average price target of $15.

Vermilion Energy Inc. (NYSE:VET - Get Free Report) TSE: VET shares crossed below its 200-day moving average during trading on Wednesday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $11.62 and traded as low as $10.60. Vermilion Energy shares last traded at $10.7550, with a volume of 4,775,474 shares trading hands.

The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.43). Vermilion Energy had a positive return on equity of 5.26% and a negative net margin of 22.48%.

Vermilion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a C$0.14 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, December 15th. Vermilion Energy's dividend payout ratio (DPR) is currently -18.48%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Vermilion Energy in a research report on Friday, October 9th. Wall Street Zen raised Vermilion Energy from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. TD Securities reaffirmed a "buy" rating on shares of Vermilion Energy in a research note on Friday, July 31st. Scotiabank reiterated a "sector perform" rating on shares of Vermilion Energy in a research report on Monday, October 19th. Finally, Desjardins raised shares of Vermilion Energy to a "hold" rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.00.

Hedge Funds Weigh In On Vermilion Energy

Large investors have recently added to or reduced their stakes in the business. Canoe Financial LP acquired a new stake in shares of Vermilion Energy in the third quarter valued at about $15,517,000. Drum Hill Capital LLC lifted its position in Vermilion Energy by 0.7% during the 3rd quarter. Drum Hill Capital LLC now owns 372,122 shares of the oil and gas company's stock worth $4,238,000 after acquiring an additional 2,587 shares in the last quarter. Gold Investment Management Ltd. lifted its position in Vermilion Energy by 1,493.3% during the 3rd quarter. Gold Investment Management Ltd. now owns 4,780 shares of the oil and gas company's stock worth $54,000 after acquiring an additional 4,480 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Vermilion Energy by 212.3% in the 2nd quarter. Engineers Gate Manager LP now owns 172,429 shares of the oil and gas company's stock worth $1,615,000 after acquiring an additional 117,219 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in Vermilion Energy by 127.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 107,717 shares of the oil and gas company's stock worth $1,009,000 after acquiring an additional 60,415 shares during the period. 31.91% of the stock is currently owned by hedge funds and other institutional investors.

Vermilion Energy Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.90. The company's 50-day simple moving average is $12.59 and its 200-day simple moving average is $11.62. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -5.09 and a beta of 0.52.

About Vermilion Energy

Vermilion Energy Inc is a Canadian-based international oil and natural gas producer headquartered in Calgary, Alberta. Founded in 1994, the company explores for, develops, and produces crude oil, condensate, natural gas liquids, and natural gas.

Vermilion operates a geographically diversified portfolio of assets in North America and Europe, with activities in Canada, the United States, France, the Netherlands, Germany, and Croatia. Its production includes conventional and unconventional oil and gas, with operations focused on developing reserves and supplying energy to regional and international markets.

The company's shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

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