Vaalco Energy Inc (NYSE:EGY) to Issue $0.06 Quarterly Dividend

Vaalco Energy Inc (NYSE:EGY) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Friday, August 21st will be given a dividend of 0.0625 per share by the energy company on Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, August 21st.

Vaalco Energy has a dividend 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 fall. 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 traded up $0.58 during trading hours on Friday, reaching $5.74. 1,354,942 shares of the company’s stock were exchanged, compared to its average volume of 1,432,962. The firm has a fifty day moving average of $5.32 and a 200-day moving average of $5.49. Vaalco Energy has a one year low of $3.36 and a one year high of $6.72. The stock has a market cap of $598.86 million, a PE ratio of -4.18 and a beta of 0.10. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60.

Vaalco Energy (NYSE:EGY) last announced its earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $78.20 million. Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%. On average, equities research analysts predict that Vaalco Energy will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vaalco Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Vaalco Energy by 6.7% during the 2nd quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company’s stock worth $45,399,000 after buying an additional 558,168 shares during the period. Persistent Asset Partners Ltd purchased a new position in Vaalco Energy during the 2nd quarter valued at about $61,000. Bank of New York Mellon Corp raised its holdings in shares of Vaalco Energy by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,213,760 shares of the energy company’s stock valued at $6,166,000 after acquiring an additional 35,077 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Vaalco Energy by 507.5% during the second quarter. Russell Investments Group Ltd. now owns 54,508 shares of the energy company’s stock worth $277,000 after purchasing an additional 45,535 shares in the last quarter. Finally, SmartHarvest Portfolios LLC bought a new position in shares of Vaalco Energy in the second quarter worth approximately $62,000. 50.32% of the stock is currently owned by institutional investors.

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.