VAALCO Energy Inc. (NYSE: EGY) stock jumped 0.46% on Monday to $4.34 against a previous-day closing price of $4.32. With 0.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $4.3600 whereas the lowest price it dropped to was $4.2400. The 52-week range on EGY shows that it touched its highest point at $5.87 and its lowest point at $3.51 during that stretch. It currently has a 1-year price target of $8.37. With its current market cap of 468.55 million, EGY has annualized dividend of $0.25 while the current yield stands at 5.76%. Beta for the stock currently stands at 1.50.
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 2.84%, but this was down by -11.61% over a month. Three-month performance surged to 7.43% while six-month performance rose 4.33%. The stock lost -6.67% in the past year, while it has lost -4.82% so far this year. A look at the trailing 12-month EPS for EGY yields 0.39 with Next year EPS estimates of 1.95. For the next quarter, that number is 0.14. This implies an EPS growth rate of -46.80% for this year and 98.98% 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, 106.97 million EGY shares are outstanding with a float of 103.44 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.83 million, which was 2.66% higher than short shares on Jul 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.
Through their ownership of 54.48% of EGY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 27.52% of EGY, in contrast to 24.35% held by mutual funds. Shares owned by individuals account for 11.43%. As the largest shareholder in EGY with 6.73% of the stake, BlackRock Fund Advisors holds 7,164,084 shares worth 7,164,084. A second-largest stockholder of EGY, The Vanguard Group, Inc., holds 5,464,438 shares, controlling over 5.13% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in EGY, holding 4,606,958 shares or 4.33% stake. With a 3.14% 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 SPDR S&P Oil & Gas Exploration &, which owns about 2.39% of EGY stock, is the second-largest Mutual Fund holder. It holds 2,541,287 shares valued at 10.52 million. iShares Russell 2000 ETF holds 2.27% of the stake in EGY, owning 2,417,029 shares worth 10.01 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 Jun 29, 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.
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 $9.00 and a low target of $7.23, the average target price over the next 12 months is $8.12. Based on these targets, EGY could surge 107.37% to reach the target high and rise by 66.59% to reach the target low. Reaching the average price target will result in a growth of 87.1% 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 4 Sells. In these transactions, 0 shares were bought while 13,502 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 1,374,972 while 285,118 shares were sold.