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

VAALCO Energy, Inc. (NYSE:EGY) – Stock analysts at Roth Capital reduced their Q1 2024 EPS estimates for VAALCO Energy in a research report issued on Monday, April 22nd. Roth Capital analyst J. White now anticipates that the energy company will post earnings of $0.02 per share 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 released its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The company had revenue of $149.15 million during the quarter, compared to the consensus estimate of $130.53 million.

Separately, StockNews.com upgraded 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

NYSE EGY opened at $6.43 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.79 and a quick ratio of 1.77. VAALCO Energy has a 1 year low of $3.51 and a 1 year high of $7.51. The company has a market capitalization of $664.03 million, a PE ratio of 11.48 and a beta of 1.29. The company has a fifty day moving average of $5.71 and a two-hundred day moving average of $4.87.

VAALCO Energy Increases Dividend

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

Institutional Investors Weigh In On VAALCO Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of VAALCO Energy in the third quarter valued at about $38,000. Bleakley Financial Group LLC purchased a new stake in shares of VAALCO Energy in the fourth quarter valued at about $52,000. Simplicity Solutions LLC purchased a new stake in shares of VAALCO Energy in the fourth quarter valued at about $52,000. Arcadia Investment Management Corp MI raised its holdings in shares of VAALCO Energy by 9,600.0% in the first quarter. Arcadia Investment Management Corp MI now owns 14,550 shares of the energy company’s stock valued at $101,000 after buying an additional 14,400 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in VAALCO Energy during the third quarter worth about $67,000. 50.32% of the stock is 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.