Vaalco Energy (NYSE:EGY) Announces Earnings Results

Vaalco Energy (NYSE:EGY) posted its quarterly earnings data on Monday. The energy company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06), Zacks reports. Vaalco Energy had a return on equity of 4.64% and a net margin of 8.26%.The company had revenue of $61.01 million during the quarter, compared to the consensus estimate of $74.30 million.

Vaalco Energy Stock Up 2.2%

Shares of EGY stock opened at $3.88 on Wednesday. The company’s fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $3.75. Vaalco Energy has a 52 week low of $3.00 and a 52 week high of $5.47. The stock has a market cap of $404.73 million, a P/E ratio of 10.64 and a beta of 0.88. The company has a quick ratio of 1.38, a current ratio of 1.39 and a debt-to-equity ratio of 0.24.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Friday, November 21st will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, November 21st. Vaalco Energy’s payout ratio is currently 92.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EGY shares. Zacks Research raised shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Vaalco Energy in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Vaalco Energy

A number of hedge funds have recently made changes to their positions in EGY. Sei Investments Co. grew its holdings in shares of Vaalco Energy by 73.2% in the second quarter. Sei Investments Co. now owns 110,018 shares of the energy company’s stock valued at $397,000 after purchasing an additional 46,500 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Vaalco Energy by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock worth $253,000 after buying an additional 2,977 shares during the last quarter. NewEdge Advisors LLC raised 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 valued at $204,000 after buying an additional 6,840 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Vaalco Energy during the 2nd quarter valued at about $192,000. Finally, State of Wyoming bought a new position in shares of Vaalco Energy in the 2nd quarter valued at about $174,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

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.