VAALCO Energy (NYSE:EGY) Announces Earnings Results

VAALCO Energy (NYSE:EGY) released its quarterly earnings data on Monday. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04), Zacks reports. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.79%. The business had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. During the same period last year, the business posted $0.07 earnings per share.

VAALCO Energy Stock Performance

EGY stock traded down $0.17 during mid-day trading on Wednesday, hitting $5.26. The company had a trading volume of 495,873 shares, compared to its average volume of 980,406. VAALCO Energy has a 12 month low of $4.01 and a 12 month high of $7.51. The stock’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $6.18. The firm has a market cap of $545.67 million, a PE ratio of 6.14 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.19.

VAALCO Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.25 annualized dividend and a yield of 4.75%. VAALCO Energy’s payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of VAALCO Energy from a “buy” rating to a “hold” rating in a research report on Tuesday.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.