Vaalco Energy (NYSE:EGY) Announces Quarterly Earnings Results

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 the consensus estimate of $0.02 by ($0.04), FiscalAI reports. The firm had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million. Vaalco Energy had a return on equity of 1.02% and a net margin of 7.40%.

Vaalco Energy Stock Performance

EGY stock traded down $0.35 during trading on Friday, hitting $5.30. The company had a trading volume of 1,103,564 shares, compared to its average volume of 1,333,482. The firm has a market cap of $552.06 million, a PE ratio of 19.61 and a beta of 0.21. Vaalco Energy has a 1-year low of $3.00 and a 1-year high of $5.80. The firm has a 50-day moving average price of $4.77 and a 200-day moving average price of $4.13. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.24.

Vaalco Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Zacks Research downgraded 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 research 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 raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $7.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EGY. AQR Capital Management LLC increased its holdings in shares of Vaalco Energy by 228.0% in the first quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company’s stock valued at $2,799,000 after purchasing an additional 517,368 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Vaalco Energy during the third quarter worth $1,383,000. Segall Bryant & Hamill LLC purchased a new position in Vaalco Energy in the 4th quarter valued at $983,000. Goldman Sachs Group Inc. grew its position in Vaalco Energy by 32.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 737,435 shares of the energy company’s stock valued at $2,773,000 after buying an additional 182,489 shares during the last quarter. Finally, Rothschild Wealth LLC acquired a new position in Vaalco Energy in the 4th quarter valued at $530,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

About Vaalco Energy

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.