Vaalco Energy Inc (NYSE:EGY) to Issue $0.06 Quarterly Dividend

Vaalco Energy Inc (NYSE:EGY) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Friday, August 21st will be paid a dividend of 0.0625 per share by the energy company on Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 21st.

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. Research 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 NYSE:EGY traded up $0.56 during trading on Friday, reaching $5.71. 1,398,928 shares of the stock were exchanged, compared to its average volume of 1,433,379. Vaalco Energy has a 12 month low of $3.36 and a 12 month high of $6.72. The stock has a 50-day moving average price of $5.32 and a 200-day moving average price of $5.49. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The firm has a market cap of $595.83 million, a PE ratio of -4.16 and a beta of 0.10.

Vaalco Energy (NYSE:EGY) last announced its earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). The firm had revenue of $62.60 million for the quarter, compared to the consensus estimate of $78.20 million. Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%. Research analysts expect that Vaalco Energy will post 0.11 EPS for the current fiscal year.

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.