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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of independent oil and gas company VAALCO Energy (NYSE: EGY ) jumped as much as 20% today after reporting earnings.
So what: Fourth-quarter revenue was up 9% to $58.3 million and the company swung from a loss a year ago to a $26.4 million profit. On a per-share basis earnings were $0.46, coming in well ahead of the $0.34 that analysts expected.
Now what: Margins expanded significantly in 2013 and expansion plans are under way. The cash flow is encouraging and the stock now trades at just over 9 times trailing earnings. Given the opportunities in Gabon and Angola I think shares continue to have room to run.
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