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

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

VAALCO Energy Price Performance

VAALCO Energy stock opened at $4.34 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. VAALCO Energy has a 52-week low of $3.57 and a 52-week high of $7.51. The company has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $5.01. The firm has a market capitalization of $455.59 million, a price-to-earnings ratio of 5.10 and a beta of 1.16.

VAALCO Energy Announces Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of VAALCO Energy from a “hold” rating to a “buy” rating in a research note 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.