VAALCO Energy Inc. (NYSE: EGY) stock jumped 1.00% on Tuesday to $4.06 against a previous-day closing price of $4.02. With 0.92 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.68 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $4.1650 whereas the lowest price it dropped to was $4.0200. The 52-week range on EGY shows that it touched its highest point at $8.77 and its lowest point at $3.51 during that stretch. It currently has a 1-year price target of $9.10. With its current market cap of 436.82 million, EGY has annualized dividend of $0.25 while the current yield stands at 6.16%. Beta for the stock currently stands at 1.50.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EGY was up-trending over the past week, with a rise of 9.73%, but this was down by -4.92% over a month. Three-month performance dropped to -4.69% while six-month performance fell -24.39%. The stock lost -36.16% in the past year, while it has lost -10.96% so far this year. A look at the trailing 12-month EPS for EGY yields 0.75 with Next year EPS estimates of 1.93. For the next quarter, that number is 0.24. This implies an EPS growth rate of -46.80% for this year and 62.18% for next year. EPS is expected to grow by 2.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -7.00%.
Float and Shares Shorts:
At present, 106.77 million EGY shares are outstanding with a float of 104.34 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.6 million, which was 4.28% higher than short shares on Mar 30, 2023. In addition to Mr. George Walter-Mitchell Maxwell as the firm’s CEO & Director, Mr. Ronald Y. Bain serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 54.36% of EGY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.56% of EGY, in contrast to 24.49% held by mutual funds. Shares owned by individuals account for 10.65%. As the largest shareholder in EGY with 6.78% of the stake, SSgA Funds Management, Inc. holds 7,278,944 shares worth 7,278,944. A second-largest stockholder of EGY, BlackRock Fund Advisors, holds 6,413,690 shares, controlling over 5.98% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in EGY, holding 5,511,469 shares or 5.14% stake. With a 3.12% stake in EGY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,343,681 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.11% of EGY stock, is the second-largest Mutual Fund holder. It holds 2,259,808 shares valued at 9.67 million. SPDR S&P Oil & Gas Exploration & holds 1.99% of the stake in EGY, owning 2,135,081 shares worth 9.14 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, EGY reported revenue of $127.51M and operating income of $73.72M. The EBITDA in the recently reported quarter was $92.02M and diluted EPS was $0.25.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EGY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EGY analysts setting a high price target of $9.97 and a low target of $8.40, the average target price over the next 12 months is $9.22. Based on these targets, EGY could surge 145.57% to reach the target high and rise by 106.9% to reach the target low. Reaching the average price target will result in a growth of 127.09% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EGY stock several times over the past three months with 0 Buys and 12 Sells. In these transactions, 0 shares were bought while 29,064 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 361,808 while 194,194 shares were sold.
