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

Vaalco Energy (NYSE:EGY) released 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 net margin of 7.40% and a return on equity of 1.02%. The firm had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million.

Vaalco Energy Stock Down 6.1%

NYSE EGY traded down $0.35 during trading on Friday, reaching $5.30. 1,103,564 shares of the company’s stock were exchanged, compared to its average volume of 1,333,482. The company has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $4.13. The stock has a market cap of $552.06 million, a P/E 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 company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.05.

Vaalco Energy Dividend Announcement

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

Analyst Ratings Changes

EGY has been the subject of a number of recent research reports. Loop Capital set a $7.30 target price on Vaalco Energy in a report on Friday, January 16th. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Finally, Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $7.30.

Institutional Investors Weigh In On Vaalco Energy

Several institutional investors have recently added to or reduced their stakes in EGY. AQR Capital Management LLC boosted its holdings in 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 in the last quarter. NewEdge Advisors LLC lifted its position in shares of Vaalco Energy by 14.5% during the 1st quarter. NewEdge Advisors LLC now owns 54,171 shares of the energy company’s stock worth $204,000 after buying an additional 6,840 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 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 in the last quarter. Caxton Associates LLP acquired a new position in shares of Vaalco Energy in the 1st quarter valued at $136,000. Finally, Empowered Funds LLC grew its position in shares of Vaalco Energy by 5.6% in the 1st quarter. Empowered Funds LLC now owns 573,580 shares of the energy company’s stock valued at $2,157,000 after buying an additional 30,295 shares during the last quarter. Hedge funds and other institutional investors own 50.32% of the company’s stock.

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.