VAALCO Energy (EGY) Declares $0.06 Dividend

VAALCO Energy said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.25 annualized). Previously, the company paid $0.06 per share.

Shares must be purchased before the ex-div date of May 23, 2023 to qualify for the dividend. Shareholders of record as of May 24, 2023 will receive the payment on June 23, 2023.

At the current share price of $4.14 / share, the stock's dividend yield is 6.04%.

Looking back five years and taking a sample every week, the average dividend yield has been 11.25%, the lowest has been 1.64%, and the highest has been 35.07%. The standard deviation of yields is 7.08 (n=237).

The current dividend yield is 0.74 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 355 funds or institutions reporting positions in VAALCO Energy. This is an increase of 25 owner(s) or 7.58% in the last quarter. Average portfolio weight of all funds dedicated to EGY is 0.11%, a decrease of 11.06%. Total shares owned by institutions increased in the last three months by 55.38% to 64,593K shares. The put/call ratio of EGY is 0.19, indicating a bullish outlook.

Analyst Price Forecast Suggests 97.17% Downside

As of May 11, 2023, the average one-year price target for VAALCO Energy is 0.12. The forecasts range from a low of 0.11 to a high of $0.13. The average price target represents a decrease of 97.17% from its latest reported closing price of 4.14.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for VAALCO Energy is 559MM, an increase of 52.75%. The projected annual non-GAAP EPS is 2.44.

What are Other Shareholders Doing?

XOP - SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF holds 5,484K shares representing 5.10% ownership of the company. In it's prior filing, the firm reported owning 3,097K shares, representing an increase of 43.52%. The firm increased its portfolio allocation in EGY by 3.11% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,344K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 1,763K shares, representing an increase of 47.29%. The firm increased its portfolio allocation in EGY by 83.22% over the last quarter.

Wilen Investment Management holds 3,132K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 3,043K shares, representing an increase of 2.85%. The firm decreased its portfolio allocation in EGY by 23.93% over the last quarter.

Renaissance Technologies holds 2,701K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 1,215K shares, representing an increase of 55.02%. The firm increased its portfolio allocation in EGY by 124.84% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,437K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 1,244K shares, representing an increase of 48.93%. The firm increased its portfolio allocation in EGY by 85.46% over the last quarter.

VAALCO Energy Background Information
(This description is provided by the company.)

VAALCO Energy Inc., founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

This story originally appeared on Fintel.