VAALCO Energy, Inc. (NYSE: EGY) Stock: Can It Surge Further?

In the last trading session, 1.54 million shares of the VAALCO Energy, Inc. (NYSE:EGY) were traded, and its beta was 1.29. Most recently the company’s share price was $6.97, and it changed around $0.1 or 1.46% from the last close, which brings the market valuation of the company to $719.79M. EGY currently trades at a discount to its 52-week high of $7.05, offering almost -1.15% off that amount. The share price’s 52-week low was $3.51, which indicates that the current value has risen by an impressive 49.64% since then. We note from VAALCO Energy, Inc.’s average daily trading volume that its 10-day average is 2.27 million shares, with the 3-month average coming to 999.98K.

VAALCO Energy, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended EGY as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. VAALCO Energy, Inc. is expected to report earnings per share of $0.25 for the current quarter.

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VAALCO Energy, Inc. (NYSE:EGY) trade information

Instantly EGY has showed a green trend with a performance of 1.46% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 55.23% year-to-date, but still up 13.52% over the last five days. On the other hand, VAALCO Energy, Inc. (NYSE:EGY) is 62.47% up in the 30-day period. We can see from the shorts that 2.85 million shares have been sold at a short interest cover period of 2.86 day(s).

VAALCO Energy, Inc. (EGY) estimates and forecasts

VAALCO Energy, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 55.58 percent over the past six months and at a 98.39% annual growth rate that is well above the industry average of 11.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 257.10% in revenue this quarter, and will report an increase of 81.80% in the next quarter. The year-over-year growth rate is expected to be -5.40%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $113.7 million in revenue for the current quarter. 1 analysts expect VAALCO Energy, Inc. to make $114.93 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 30.10%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.09%. VAALCO Energy, Inc. earnings are expected to increase by 23.79% in 2024, but the outlook is positive 2.00% per year for the next five years.

EGY Dividends

VAALCO Energy, Inc.’s next quarterly earnings report is expected to be released on March 13. The annual dividend yield of the stock is 3.59 percent and its annual dividend per share was 0.25. It is important to note, however, that the 3.59% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

VAALCO Energy, Inc. (NYSE:EGY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.94% of VAALCO Energy, Inc. shares, and 54.89% of them are in the hands of institutional investors. The stock currently has a share float of 55.98%. VAALCO Energy, Inc. stock is held by 224 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 7.85% of the shares, which is about 8.36 million shares worth $31.43 million.

Vanguard Group Inc, with 5.30% or 5.64 million shares worth $21.21 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 3.34 million shares worth $12.57 million, making up 3.14% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF held roughly 2.54 million shares worth around $10.5 million, which represents about 2.38% of the total shares outstanding.