VAALCO Energy, Inc. (NYSE:EGY) Declares $0.06 Quarterly Dividend

VAALCO Energy, Inc. (NYSE:EGY) declared a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be paid a dividend of 0.0625 per share by the energy company on Friday, June 27th. This represents a $0.25 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Friday, May 23rd.

VAALCO Energy has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect VAALCO Energy to earn $0.25 per share next year, which means the company may not be able to cover its $0.25 annual dividend with an expected future payout ratio of 100.0%.

VAALCO Energy Stock Performance

EGY stock opened at $3.44 on Friday. The firm has a fifty day moving average price of $3.58 and a 200 day moving average price of $4.30. VAALCO Energy has a fifty-two week low of $3.00 and a fifty-two week high of $7.43. The firm has a market cap of $361.47 million, a PE ratio of 4.05 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34.

VAALCO Energy (NYSE:EGY) last posted its earnings results on Thursday, May 8th. The energy company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $110.33 million for the quarter, compared to the consensus estimate of $99.30 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. Sell-side analysts anticipate that VAALCO Energy will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other VAALCO Energy news, COO Thor Pruckl sold 10,169 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $3.95, for a total value of $40,167.55. Following the completion of the sale, the chief operating officer now owns 174,992 shares of the company’s stock, valued at $691,218.40. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.