Strs Ohio Invests in VAALCO Energy, Inc. (EGY)

VAALCO Energy, Inc. (NYSE:EGY) is among the hidden penny stocks to buy now. During the first quarter, Strs Ohio purchased a new stake in VAALCO Energy, Inc. (NYSE:EGY) through the acquisition of 91,200 shares of the company’s stock. According to the disclosure with the SEC, the firm owns 0.09% of the company, an investment worth approximately $343,000.

As revealed in the latest earnings call, VAALCO Energy, Inc. (NYSE:EGY) has exceeded or at least maintained its quarterly production guidance, which in turn has led to robust operational and financial results. If we consider the 5-year return delivered by the company, it has outshone the market’s return by an impressive 345.39%.

As stated by the CEO George Walter-Mitchell Maxwell,

Maintaining operational excellence and consistent production across our portfolio is essential to continued strong adjusted EBITDAX generation, which will enable us to fund organic growth initiatives and position us as a larger player in the industry.

The future of VAALCO Energy, Inc. (NYSE:EGY) appears equally promising, all of which is due to excellence in financial management. By 2027, the company aims to double its production while leveraging ongoing mergers and acquisitions (M&A) and late-stage projects in Africa.

VAALCO Energy, Inc. (NYSE:EGY) is a Texas-based independent energy company that is committed to creating sustainable value. Founded in 1985, the company specializes in crude oil, natural gas, and natural gas liquids.

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Disclosure: None.