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

VAALCO Energy (NYSE:EGY) released its earnings results on Tuesday. The energy company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09, Yahoo Finance reports. The firm had revenue of $116.78 million for 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 quarter in the previous year, the business posted $0.11 earnings per share.

VAALCO Energy Trading Down 3.2 %

Shares of VAALCO Energy stock traded down $0.21 on Friday, hitting $6.15. The stock had a trading volume of 953,307 shares, compared to its average volume of 1,035,397. The stock has a 50 day moving average of $6.48 and a 200 day moving average of $5.91. The firm has a market capitalization of $635.76 million, a P/E ratio of 10.24 and a beta of 1.19. VAALCO Energy has a twelve month low of $3.80 and a twelve month high of $7.51. 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 company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, August 23rd. VAALCO Energy’s payout ratio is 41.67%.

Analyst Ratings Changes

Several brokerages recently issued reports on EGY. StockNews.com lowered shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Roth Mkm boosted their target price on shares of VAALCO Energy from $7.25 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th.

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.