On March 13, 2014, VAALCO Energy, Inc. (NYSE:EGY) reported results for the fourth quarter and full-year 2013. For the 2013 fourth quarter, VAALCO reported net income of $26.4 million, or $0.46 per diluted share, compared to a net loss attributable to VAALCO of $18.9 million, or a loss of $0.33 per diluted share, for the comparable period in 2012. For the year ended December 31, 2013, VAALCO reported record net income of $43.1 million, or $0.74 per diluted share, compared to net income attributable to VAALCO of $0.6 million, or $0.01 per diluted share, for the year ended December 31, 2012. The increase in net income in 2013 versus 2012 is primarily attributable to lower income taxes paid in Gabon as well as lower exploration costs. VAALCO Energy, Inc. (NYSE:EGY) shares after opening at $6.22 on last trade day and at the end of the day closed at $7.12. Company price to sales ratio in past twelve months was calculated as 2.45 and price to cash ratio as 4.01. VAALCO Energy, Inc. (NYSE:EGY) showed a positive weekly performance of 7.07%.
Howard Weil upgraded shares of Callon Petroleum Company (NYSE:CPE) from an underperform rating to a sector perform rating in a research note issued to investors on Friday, Analyst Ratings.Net reports. Callon Petroleum Company (NYSE:CPE) shares advanced 7.76% in last trading session and ended the day on $8.61. CPE return on equity ratio is recorded as -0.90% and its return on assets is -0.50%. Callon Petroleum Company (NYSE:CPE) yearly performance is 72.20%.
Harvest Natural Resources, Inc. (NYSE:HNR) announced 2013 fourth quarter and year-end earnings. Harvest posted a fourth quarter net loss of $122.7 million, or $3.02 per diluted share, compared with a net loss of $23.1 million, or $0.59 per diluted share, for the 2012 fourth quarter. For the year ended December 31, 2013, Harvest’s net loss was $89.1 million, or $2.25 per diluted share, compared with a net loss of $12.2 million, or $0.33 per diluted share, for 2012. Harvest Natural Resources, Inc. (NYSE:HNR) shares moved up 6.63% in last trading session and was closed at $4.34, while trading in range of $3.99 – $4.36. Harvest Natural Resources, Inc. (NYSE:HNR) year to date (YTD) performance is -3.98%.
Feb 18 — Saratoga Resources, Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced proved reserves as of close of business December 31, 2013. Proved reserves at year end totaled 17.24 million barrels of oil equivalent (“MMBOE”), 53.6% oil, with a net present value discounted at 10% (“PV10”) of $410.8 million, using SEC pricing, adjusted for quality and location, or average realized pricing of $108.64 per barrel of oil and $4.35 per thousand cubic feet (“MCF”). This represents a marginal increase over the Company’s year-end 2012 proved reserves of 17.23 MMBOE, of which 48.8% were oil. Saratoga Resources, Inc. (NYSEMKT:SARA) weekly performance is -4.55%. On last trading day company shares ended up $1.26. Saratoga Resources, Inc. (NYSEMKT:SARA) distance from 50-day simple moving average (SMA50) is 8.73%. Analysts mean target price for the company is $3.75.