Winning Stock Forecast: VAALCO Energy, Inc. (NYSE: EGY) Returns up to 42.73% in 3 days

[Image Source: CERTENT]

VAALCO Energy, Inc., an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas. The company holds Etame production sharing contract related to the Etame Marin block located offshore the Republic of Gabon in West Africa. It also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa. VAALCO Energy, Inc. was founded in 1984 and is headquartered in Houston, Texas.

Over the 3 days after I Know First issued a bullish short term forecast for EGY on May 4, 2018, VAALCO Energy’s stock price jumped from $1.09 to $1.2 per share, outperforming the market by about 9%. What happened that drove the growth? The reason lies in the company’s outstanding growth results for Q1 2018 released with the following highlights:

  • Total oil sales for Q1 of 2018, $27.6 million.
  • Income from continuing operations of $8.7 million ($0.15 per diluted share) for Q1 of 2018, 146% higher, compared with $4.4 million ($0.07 per diluted share) in Q1 of 2017.
  • Average price for crude oil in Q1 of 2018, $68.69 per barrel, an increase of 32% from $51.99 per barrel in Q1 of 2017.
  • Adjusted EBITDAX totaled $14.5 million in Q1 of 2018 compared with $10.4 million in the same period of 2017.

Total oil sales for Q1 of 2018 were $27.6 million, compared to $17.2 million in Q4 of 2017.  During Q1 of 2018, VAALCO sold approximately 393,000 net barrels of oil at an average price of $68.69 per barrel, compared to 280,000 net barrels at an average price of $59.89 per barrel in Q4 of 2017.

During Q1 of 2018, VAALCO reduced its debt by $2.1 million. On March 31, 2018, debt, net of deferred financing costs, totaled $7.0 million, of which $5.8 million is expected to be repaid during 2018 and was classified as current, reflecting the repayment terms of the loan agreement with the IFC.

[Image Source: Yahoo Finance]

From the above data one can see that VAALCO Energy, Inc. increased its share value by about 9% with the announcement of their successful Q1 revenues of 2018.

With good agreement with the I Know first bullish 3-day forecast that was published on May 4th, 2018, EGY stock grew after the financial operations resulted for Q1 of 2018 were published on May 7, 2018. The forecast illustrated a signal of 36.93 and a predictability of 0.1. In accordance with the forecast, EGY’s stock returned 42.73% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

Current I Know First subscribers received this bullish EGY forecast on May 4, 2018

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