VAALCO Energy (NYSE:EGY) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

VAALCO Energy (NYSE:EGY) issued its earnings results on Tuesday. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09, Yahoo Finance reports. The business had revenue of $116.78 million during the quarter, compared to analysts’ expectations of $119.30 million. VAALCO Energy had a return on equity of 14.04% and a net margin of 13.60%. During the same period in the prior year, the firm posted $0.11 EPS.

VAALCO Energy Price Performance

Shares of NYSE EGY traded down $0.21 during trading on Friday, reaching $6.15. The company had a trading volume of 953,307 shares, compared to its average volume of 1,035,397. VAALCO Energy has a 52 week low of $3.80 and a 52 week high of $7.51. The business’s 50 day moving average price is $6.48 and its 200-day moving average price is $5.91. The stock has a market cap of $635.76 million, a PE ratio of 10.24 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.66.

VAALCO Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Friday, August 23rd. VAALCO Energy’s dividend payout ratio is currently 41.67%.

Analysts Set New Price Targets

EGY has been the subject of several analyst reports. Roth Mkm lifted their price target on shares of VAALCO Energy from $7.25 to $8.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. StockNews.com lowered VAALCO Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th.

VAALCO Energy Company Profile

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.