Vaalco Energy Inc Plans Quarterly Dividend of $0.06 (NYSE:EGY)

Vaalco Energy Inc (NYSE:EGY) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Friday, May 22nd will be given a dividend of 0.0625 per share by the energy company on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, May 22nd.

Vaalco Energy has a payout ratio of 92.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Vaalco Energy to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 86.2%.

Vaalco Energy Price Performance

NYSE EGY opened at $5.99 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.68 and a current ratio of 0.69. The firm’s 50 day moving average price is $5.87 and its 200-day moving average price is $4.68. Vaalco Energy has a 52-week low of $3.14 and a 52-week high of $6.72. The company has a market cap of $640.88 million, a PE ratio of -14.97 and a beta of 0.17.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings data on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.47). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The business had revenue of $62.60 million for the quarter, compared to the consensus estimate of $78.20 million. Sell-side analysts forecast that Vaalco Energy will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on EGY. Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Finally, Loop Capital set a $7.30 price objective on shares of Vaalco Energy in a research note on Friday, January 16th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Vaalco Energy currently has an average rating of “Hold” and an average target price of $7.30.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.