Vaalco Energy (NYSE:EGY) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Vaalco Energy (NYSE:EGY) issued its quarterly earnings data on Thursday. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04), FiscalAI reports. The company had revenue of $91.04 million for the quarter, compared to the consensus estimate of $76.30 million. Vaalco Energy had a return on equity of 1.02% and a net margin of 7.40%.

Vaalco Energy Trading Down 6.6%

EGY stock traded down $0.38 during mid-day trading on Friday, reaching $5.27. The company’s stock had a trading volume of 1,160,453 shares, compared to its average volume of 1,334,142. The business’s 50 day moving average price is $4.77 and its 200 day moving average price is $4.13. The company has a market cap of $548.93 million, a price-to-earnings ratio of 19.54 and a beta of 0.21. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. Vaalco Energy has a 12 month low of $3.00 and a 12 month high of $5.80.

Vaalco Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 27th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.25 annualized dividend and a yield of 4.7%. Vaalco Energy’s dividend payout ratio (DPR) is currently 92.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Vaalco Energy in the 4th quarter worth about $31,000. CIBC Bancorp USA Inc. acquired a new position in Vaalco Energy during the 3rd quarter valued at about $44,000. Qube Research & Technologies Ltd bought a new stake in Vaalco Energy during the 3rd quarter worth approximately $47,000. StoneX Group Inc. purchased a new stake in shares of Vaalco Energy in the fourth quarter worth approximately $48,000. Finally, Quantbot Technologies LP bought a new stake in Vaalco Energy during the third quarter worth $55,000. 50.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on EGY shares. Zacks Research downgraded shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research report on Friday, January 16th. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Vaalco Energy presently has a consensus rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.