Roth Capital Brokers Lift Earnings Estimates for VAALCO Energy, Inc. (NYSE:EGY)

VAALCO Energy, Inc. (NYSE:EGY) – Equities research analysts at Roth Capital raised their Q3 2024 earnings estimates for shares of VAALCO Energy in a report issued on Tuesday, August 27th. Roth Capital analyst J. White now anticipates that the energy company will post earnings per share of $0.18 for the quarter, up from their prior estimate of $0.12. The consensus estimate for VAALCO Energy’s current full-year earnings is $0.41 per share. Roth Capital also issued estimates for VAALCO Energy’s Q4 2024 earnings at $0.13 EPS, FY2024 earnings at $0.65 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.53 EPS.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Roth Mkm increased their target price on shares of VAALCO Energy from $7.25 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th.

VAALCO Energy Price Performance

EGY opened at $6.51 on Thursday. The stock’s 50-day moving average price is $6.56 and its 200 day moving average price is $6.15. VAALCO Energy has a 12-month low of $3.80 and a 12-month high of $7.51. The firm has a market cap of $673.50 million, a price-to-earnings ratio of 10.85 and a beta of 1.19. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. VAALCO Energy had a return on equity of 16.00% and a net margin of 17.82%. The business had revenue of $116.78 million during the quarter, compared to analyst estimates of $119.30 million. During the same period last year, the business posted $0.11 earnings per share.

Institutional Trading of VAALCO Energy

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new position in VAALCO Energy in the second quarter valued at $110,000. AQR Capital Management LLC increased its holdings in shares of VAALCO Energy by 60.0% in the 2nd quarter. AQR Capital Management LLC now owns 235,330 shares of the energy company’s stock valued at $1,476,000 after acquiring an additional 88,276 shares during the last quarter. Caxton Associates LP purchased a new stake in VAALCO Energy during the second quarter worth approximately $653,000. Squarepoint Ops LLC lifted its stake in VAALCO Energy by 40.8% during the second quarter. Squarepoint Ops LLC now owns 94,619 shares of the energy company’s stock worth $593,000 after purchasing an additional 27,408 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in VAALCO Energy in the second quarter valued at approximately $220,000. Institutional investors and hedge funds own 50.32% of the company’s stock.

VAALCO Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 23rd will be given a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Friday, August 23rd. VAALCO Energy’s dividend payout ratio is currently 41.67%.

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.