Vaalco Energy Inc (NYSE:EGY) Plans Quarterly Dividend of $0.06

Vaalco Energy Inc (NYSE:EGY) announced a quarterly dividend on Thursday, May 7th. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.0625 per share by the energy company on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, May 22nd.

Vaalco Energy has a payout ratio of 92.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Vaalco Energy to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 86.2%.

Vaalco Energy Stock Performance

Shares of EGY stock opened at $5.99 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $5.87 and a 200-day moving average price of $4.68. Vaalco Energy has a 52 week low of $3.14 and a 52 week high of $6.72. The firm has a market capitalization of $640.88 million, a PE ratio of -14.97 and a beta of 0.17.

Vaalco Energy (NYSE:EGY) last issued its quarterly earnings data on Thursday, May 7th. The energy company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.47). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $78.20 million. As a group, equities research analysts expect that Vaalco Energy will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EGY. Loop Capital set a $7.30 target price on shares of Vaalco Energy in a research note on Friday, January 16th. Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.