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

Vaalco Energy (NYSE:EGY) issued its quarterly earnings results 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 firm had revenue of $91.04 million for the quarter, compared to analyst estimates of $76.30 million. Vaalco Energy had a return on equity of 1.02% and a net margin of 7.40%.

Vaalco Energy Price Performance

Shares of NYSE:EGY traded down $0.33 during trading on Friday, hitting $5.32. 1,198,585 shares of the stock were exchanged, compared to its average volume of 1,335,354. The company has a market cap of $554.14 million, a PE ratio of 19.68 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. The company has a fifty day moving average price of $4.77 and a two-hundred day moving average price of $4.13. Vaalco Energy has a 12-month low of $3.00 and a 12-month high of $5.80.

Vaalco Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, February 27th. Vaalco Energy’s dividend payout ratio (DPR) is presently 92.59%.

Hedge Funds Weigh In On Vaalco Energy

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EGY. Zacks Research lowered Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Loop Capital set a $7.30 price target on Vaalco Energy in a report on Friday, January 16th. Weiss Ratings upgraded 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 Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price 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.