VAALCO Energy, Inc. Expected to Post Q1 2024 Earnings of $0.02 Per Share (NYSE:EGY)

VAALCO Energy, Inc. (NYSE:EGY) – Research analysts at Roth Capital lowered their Q1 2024 earnings estimates for shares of VAALCO Energy in a report released on Monday, April 22nd. Roth Capital analyst J. White now forecasts 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 $1.23 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 issued its earnings results on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The business had revenue of $149.15 million for the quarter, compared to the consensus estimate of $130.53 million.

Separately, StockNews.com raised shares of VAALCO Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $6.43 on Wednesday. The company’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $4.87. VAALCO Energy has a 52 week low of $3.51 and a 52 week high of $7.51. The company has a current ratio of 1.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.16. The company has a market cap of $664.03 million, a PE ratio of 11.48 and a beta of 1.29.

VAALCO Energy Increases Dividend

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

Institutional Investors Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in VAALCO Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,666,535 shares of the energy company’s stock worth $24,876,000 after buying an additional 26,551 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in VAALCO Energy by 3.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,196,895 shares of the energy company’s stock worth $9,644,000 after buying an additional 79,755 shares during the period. American Century Companies Inc. increased its stake in VAALCO Energy by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock worth $5,234,000 after buying an additional 138,810 shares during the period. Franklin Resources Inc. increased its stake in VAALCO Energy by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 957,194 shares of the energy company’s stock worth $4,298,000 after buying an additional 71,810 shares during the period. Finally, Foundry Partners LLC increased its stake in VAALCO Energy by 65.4% during the 4th quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock worth $3,939,000 after buying an additional 347,005 shares during the period. Hedge funds and other institutional investors own 50.32% of the company’s stock.

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.