Vaalco Energy (NYSE:EGY) Releases Earnings Results, Misses Estimates By $0.04 EPS

Vaalco Energy (NYSE:EGY) posted its earnings results on Thursday. The energy company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04), FiscalAI reports. Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.79%. The company had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million.

Vaalco Energy Stock Down 4.5%

Shares of EGY opened at $5.39 on Friday. The company has a market cap of $561.43 million, a PE ratio of -13.46 and a beta of 0.21. The business has a fifty day moving average of $4.81 and a 200 day moving average of $4.14. Vaalco Energy has a 52-week low of $3.00 and a 52-week high of $5.80. 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 Dividend Announcement

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. This represents a $0.25 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, February 27th. Vaalco Energy’s dividend payout ratio is presently -62.50%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Vaalco Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus Investment Advisers LLC bought a new stake in shares of Vaalco Energy in the 4th quarter worth about $170,000. Wellington Management Group LLP bought a new position in Vaalco Energy during the 4th quarter valued at about $141,000. Oxford Asset Management LLP purchased a new stake in Vaalco Energy in the 4th quarter worth about $84,000. Price T Rowe Associates Inc. MD raised its position in Vaalco Energy by 40.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 147,666 shares of the energy company’s stock worth $538,000 after purchasing an additional 42,177 shares during the period. Finally, Mangrove Partners IM LLC bought a new stake in Vaalco Energy in the fourth quarter worth about $127,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

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.