VAALCO Energy FY2024 EPS Forecast Decreased by Roth Capital

VAALCO Energy, Inc. (NYSE:EGY) – Roth Capital cut their FY2024 earnings per share (EPS) estimates for VAALCO Energy in a research note issued to investors on Tuesday, December 17th. Roth Capital analyst J. White now forecasts that the energy company will post earnings of $0.43 per share for the year, down from their previous 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.

Separately, StockNews.com lowered VAALCO Energy from a “buy” rating to a “hold” rating in a report on Thursday.

VAALCO Energy Stock Up 0.9 %

NYSE EGY traded up $0.04 during mid-day trading on Thursday, hitting $4.42. The company’s stock had a trading volume of 48,751 shares, compared to its average volume of 987,413. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $5.96. VAALCO Energy has a twelve month low of $4.03 and a twelve month high of $7.51. The firm has a market capitalization of $458.54 million, a price-to-earnings ratio of 5.20 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last issued its 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 company had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. During the same period in the prior year, the company earned $0.07 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in VAALCO Energy in the third quarter valued at approximately $308,000. Barclays PLC lifted its position in shares of VAALCO Energy by 319.0% during the 3rd quarter. Barclays PLC now owns 160,736 shares of the energy company’s stock valued at $923,000 after buying an additional 122,373 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of VAALCO Energy by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,493,587 shares of the energy company’s stock worth $14,316,000 after acquiring an additional 109,090 shares during the period. Zacks Investment Management increased its holdings in VAALCO Energy by 19.6% in the 3rd quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock worth $89,000 after acquiring an additional 2,527 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in VAALCO Energy in the 3rd quarter valued at about $142,000. 50.32% of the stock is owned by institutional investors.

VAALCO Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 5.66%. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

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.