Brokers Set Expectations for VAALCO Energy FY2024 Earnings

VAALCO Energy, Inc. (NYSE:EGY) – Investment analysts at Roth Capital decreased their FY2024 earnings estimates for shares of VAALCO Energy in a research note issued to investors on Tuesday, December 17th. Roth Capital analyst J. White now anticipates that the energy company will earn $0.43 per share for the year, down from their prior forecast of $0.50. The consensus estimate for VAALCO Energy’s current full-year earnings is $0.50 per share. Roth Capital also issued estimates for VAALCO Energy’s Q4 2024 earnings at $0.05 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.25 EPS.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. The business had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. During the same quarter last year, the company earned $0.07 earnings per share.

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

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.29 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34. VAALCO Energy has a 52 week low of $4.03 and a 52 week high of $7.51. The company’s 50 day moving average price is $5.32 and its two-hundred day moving average price is $5.95. The company has a market capitalization of $445.06 million, a P/E ratio of 5.05 and a beta of 1.18.

VAALCO Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.25 annualized dividend and a dividend yield of 5.83%. VAALCO Energy’s dividend payout ratio is currently 29.41%.

Institutional Investors Weigh In On VAALCO Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGY. Innealta Capital LLC bought a new position in shares of VAALCO Energy in the second quarter valued at $60,000. nVerses Capital LLC bought a new position in shares of VAALCO Energy in the 3rd quarter valued at about $60,000. Crestmont Private Wealth LLC bought a new position in shares of VAALCO Energy in the 3rd quarter valued at about $63,000. Arkadios Wealth Advisors acquired a new position in shares of VAALCO Energy during the 2nd quarter worth about $64,000. Finally, Zacks Investment Management raised its holdings in shares of VAALCO Energy by 19.6% in the 3rd quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock valued at $89,000 after purchasing an additional 2,527 shares during the period. 50.32% of the stock is owned by institutional investors.

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.