VAALCO Energy, Inc. Plans Quarterly Dividend of $0.06 (NYSE:EGY)

VAALCO Energy, Inc. (NYSE:EGY) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.0625 per share by the energy company on Friday, December 20th. This represents a $0.25 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Friday, November 22nd.

VAALCO Energy has a payout ratio of 61.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect VAALCO Energy to earn $0.33 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 75.8%.

VAALCO Energy Price Performance

EGY stock opened at $5.34 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. VAALCO Energy has a one year low of $4.03 and a one year high of $7.51. The stock has a market cap of $553.45 million, a PE ratio of 6.28 and a beta of 1.19. The firm has a 50 day simple moving average of $5.73 and a two-hundred day simple moving average of $6.13.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The firm had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, analysts predict that VAALCO Energy will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of VAALCO Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

About VAALCO Energy

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.