VAALCO Energy (NYSE:EGY) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

VAALCO Energy (NYSE:EGY) announced its earnings results on Monday. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04), Zacks reports. VAALCO Energy had a return on equity of 15.79% and a net margin of 17.93%. The business had revenue of $140.33 million for the quarter, compared to analysts’ expectations of $128.64 million. During the same period in the previous year, the company earned $0.07 earnings per share.

VAALCO Energy Stock Down 1.7 %

EGY traded down $0.09 during trading hours on Wednesday, hitting $5.34. 614,267 shares of the company’s stock were exchanged, compared to its average volume of 980,944. VAALCO Energy has a 12-month low of $4.01 and a 12-month high of $7.51. The firm has a 50 day moving average of $5.75 and a 200 day moving average of $6.17. The firm has a market cap of $553.97 million, a P/E ratio of 6.19 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, November 22nd. VAALCO Energy’s payout ratio is currently 29.41%.

Wall Street Analysts Forecast Growth

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

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.