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

VAALCO Energy, Inc. (NYSE:EGY - Free Report) - Roth Capital cut their Q1 2024 EPS estimates for shares of VAALCO Energy in a research report issued on Monday, April 22nd. Roth Capital analyst J. White now forecasts that the energy company will post earnings of $0.02 per share for the quarter, down from their previous 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.

Separately, StockNews.com upgraded shares of VAALCO Energy from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 18th.

VAALCO Energy Stock Performance

EGY traded up $0.02 during trading on Wednesday, hitting $6.45. 988,240 shares of the stock were exchanged, compared to its average volume of 1,060,359. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16. VAALCO Energy has a 1-year low of $3.51 and a 1-year high of $7.51. The stock has a fifty day moving average price of $5.71 and a two-hundred day moving average price of $4.87. The firm has a market capitalization of $666.12 million, a P/E ratio of 11.36 and a beta of 1.29.

VAALCO Energy (NYSE:EGY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The company had revenue of $149.15 million for the quarter, compared to analyst estimates of $130.53 million.

Institutional Trading of VAALCO Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings 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 purchasing an additional 138,810 shares during the period. Foundry Partners LLC increased its stake in shares of VAALCO Energy by 65.4% during the fourth quarter. Foundry Partners LLC now owns 877,205 shares of the energy company's stock worth $3,939,000 after acquiring an additional 347,005 shares during the period. Swiss National Bank raised its holdings in VAALCO Energy by 1.3% during the third quarter. Swiss National Bank now owns 237,100 shares of the energy company's stock worth $1,041,000 after purchasing an additional 3,100 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 purchasing an additional 26,551 shares during the period. Finally, Values First Advisors Inc. boosted its holdings in VAALCO Energy by 9.5% in the 4th quarter. Values First Advisors Inc. now owns 442,826 shares of the energy company's stock valued at $1,988,000 after purchasing an additional 38,296 shares in the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.

VAALCO Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.063 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from VAALCO Energy's previous quarterly dividend of $0.06. VAALCO Energy's dividend payout ratio (DPR) is currently 44.64%.

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.