Vaalco Energy Inc.'s (NYSE:EGY) financial report for last year and its fourth quarter on Thursday was cheered by equity-market participants on Friday as its closing share price soared to $7.12 from $5.98, an advance of $1.14, or 19.06 percent. The stock's volume was more than four times its three-month average during the same trading session.
Animal spirits in the market were uncaged by the independent oil-and-gas company reporting its net income climbed to an annual record $43.07 million in 2013 from $5.34 million in 2012, while its earnings per share increased to 74 cents from 1 cent on the same basis.
Houston-based Vaalco made its bottom-line gains even though its top-line revenue dipped to $169.28 million last year...
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