Roth Capital Analysts Decrease Earnings Estimates for VAALCO Energy, Inc. (NYSE:EGY)

VAALCO Energy, Inc. (NYSE:EGY) – Research analysts at Roth Capital dropped their Q1 2024 earnings per share estimates for VAALCO Energy in a report issued on Monday, April 22nd. Roth Capital analyst J. White now anticipates that the energy company will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.25. The consensus estimate for VAALCO Energy’s current full-year earnings is $0.20 per share. Roth Capital also issued estimates for VAALCO Energy’s Q2 2024 earnings at $0.06 EPS, Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.06 EPS and FY2024 earnings at $0.20 EPS.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings results on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The business had revenue of $149.15 million during the quarter, compared to analysts’ expectations of $130.53 million.

Separately, StockNews.com upgraded VAALCO Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th.

VAALCO Energy Trading Down 0.4 %

Shares of NYSE:EGY opened at $6.43 on Wednesday. VAALCO Energy has a 12-month low of $3.51 and a 12-month high of $7.51. The stock has a market cap of $663.51 million, a PE ratio of 11.47 and a beta of 1.29. The business has a 50 day moving average of $5.79 and a 200-day moving average of $4.89. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On VAALCO Energy

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of VAALCO Energy by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,666,535 shares of the energy company’s stock valued at $24,876,000 after buying an additional 26,551 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of VAALCO Energy by 3.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 2,196,895 shares of the energy company’s stock valued at $9,644,000 after buying an additional 79,755 shares in the last quarter. American Century Companies Inc. raised its position in shares of VAALCO Energy by 13.2% in the third quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock valued at $5,234,000 after buying an additional 138,810 shares in the last quarter. Franklin Resources Inc. raised its position in shares of VAALCO Energy by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 957,194 shares of the energy company’s stock valued at $4,298,000 after buying an additional 71,810 shares in the last quarter. Finally, Foundry Partners LLC raised its position in shares of VAALCO Energy by 65.4% in the fourth quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock valued at $3,939,000 after buying an additional 347,005 shares in the last quarter. Institutional investors own 50.32% of the company’s stock.

VAALCO Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from VAALCO Energy’s previous quarterly dividend of $0.06. VAALCO Energy’s payout ratio is currently 44.64%.

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.