VAALCO Energy FY2024 EPS Estimate Decreased by Roth Capital

VAALCO Energy, Inc. (NYSE:EGY) – Equities researchers at Roth Capital cut 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 post earnings per share of $0.43 for the year, down from their prior estimate 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 earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The firm had revenue of $140.33 million during the quarter, compared to analyst estimates of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. During the same quarter last year, the business 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 Up 0.5 %

Shares of EGY stock opened at $4.31 on Thursday. VAALCO Energy has a 1-year low of $4.03 and a 1-year high of $7.51. The company has a market cap of $447.13 million, a price-to-earnings ratio of 5.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. The stock’s fifty day moving average price is $5.28 and its 200 day moving average price is $5.93.

VAALCO Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 22nd were paid a $0.0625 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.80%. VAALCO Energy’s payout ratio is currently 29.41%.

Hedge Funds Weigh In On VAALCO Energy

A number of institutional investors have recently modified their holdings of EGY. Dimensional Fund Advisors LP grew its position in VAALCO Energy by 7,129.3% during the second quarter. Dimensional Fund Advisors LP now owns 895,210 shares of the energy company’s stock valued at $5,613,000 after buying an additional 882,827 shares during the period. Foundry Partners LLC grew its position in shares of VAALCO Energy by 156.8% in the third quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock valued at $6,891,000 after purchasing an additional 733,084 shares in the last quarter. American Century Companies Inc. increased its stake in shares of VAALCO Energy by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after acquiring an additional 701,568 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in VAALCO Energy by 66.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock worth $5,527,000 after purchasing an additional 386,071 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of VAALCO Energy during the 3rd quarter worth approximately $1,676,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

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.