Vermilion Energy Announces Quarterly Earnings
Vermilion Energy (NYSE:VET) announced its latest quarterly earnings, revealing a net loss of $0.20 per share, which fell short of analysts' forecasts of a $0.06 profit by $0.14. The company's revenue for the quarter was $392.33 million, significantly below the expected $562.50 million. Following the earnings release, Vermilion's stock declined by 4.0%, closing at $7.52, and reaching a 52-week low of $5.14.
Dividend Reduction and Financial Challenges
In response to ongoing financial pressures, Vermilion Energy reduced its dividend payout, issuing a dividend of $0.13 per share on July 15th. The company’s payout ratio stood at -237.50%, reflecting the fiscal strain. Despite recent dividend payments, the company continues to face profitability challenges, with a negative net margin of 1.71% and a return on equity of -1.22%.
Trading Activity and Market Metrics
Trading activity showed a volume of approximately 1.4 million shares, with the stock's 50-day and 200-day simple moving averages hovering around $7.75 and $7.67, respectively. The company's market capitalization is estimated at $1.16 billion, with...