VAALCO Energy (NYSE:EGY) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

VAALCO Energy (NYSE:EGY) announced its quarterly earnings results on Thursday. The energy company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02, Zacks reports. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. The firm had revenue of $121.72 million during the quarter, compared to the consensus estimate of $108.91 million.

VAALCO Energy Stock Performance

Shares of VAALCO Energy stock opened at $4.34 on Friday. The firm’s fifty day simple moving average is $4.23 and its 200-day simple moving average is $5.01. VAALCO Energy has a 12 month low of $3.57 and a 12 month high of $7.51. The stock has a market capitalization of $455.59 million, a price-to-earnings ratio of 5.10 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32.

VAALCO Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Friday, February 28th. VAALCO Energy’s payout ratio is currently 29.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of VAALCO Energy from a “hold” rating to a “buy” rating in a report on Friday.

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.