Vaalco Energy Inc (NYSE:EGY) to Issue $0.06 Quarterly Dividend

Key Points

• Vaalco Energy declared a quarterly dividend of $0.0625 per share, payable September 22 to shareholders of record on August 21; the annualized dividend is $0.25, yielding approximately 4.4%.
• The dividend is supported by earnings but carries some risk, with a current payout ratio of 92.6% and an expected future payout ratio of 86.2%.
• Vaalco’s latest quarter fell well short of expectations, reporting a $0.45 per-share loss and $62.6 million in revenue versus the $78.2 million forecast.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Friday, August 21st will be given a dividend of 0.0625 per share by the energy company on Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 21st.

Vaalco Energy has a payout ratio of 92.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Vaalco Energy to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 86.2%.

Vaalco Energy Stock Performance

Shares of Vaalco Energy stock traded up $0.58 during trading on Friday, reaching $5.74. The company's stock had a trading volume of 1,354,942 shares, compared to its average volume of 1,432,962. The company has a 50-day moving average price of $5.32 and a two-hundred day moving average price of $5.49. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The firm has a market cap of $598.86 million, a PE ratio of -4.18 and a beta of 0.10. Vaalco Energy has a fifty-two week low of $3.36 and a fifty-two week high of $6.72.

Vaalco Energy (NYSE:EGY - Get Free Report) last released its earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.44). Vaalco Energy had a negative net margin of 45.86% and a negative return on equity of 12.74%. The company had revenue of $62.60 million during the quarter, compared to analysts' expectations of $78.20 million. On average, analysts forecast that Vaalco Energy will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Vaalco Energy

A number of institutional investors have recently made changes to their positions in EGY. Kestra Advisory Services LLC acquired a new stake in shares of Vaalco Energy during the 4th quarter worth approximately $31,000. Pasadena Private Wealth LLC bought a new stake in Vaalco Energy in the 1st quarter valued at $63,000. CIBC Bancorp USA Inc. acquired a new position in shares of Vaalco Energy in the 3rd quarter valued at $44,000. Qube Research & Technologies Ltd bought a new position in shares of Vaalco Energy during the 3rd quarter worth about $47,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Vaalco Energy during the 2nd quarter valued at about $61,000. 50.32% of the stock is currently owned by institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company's primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source