VAALCO Energy (NYSE:EGY) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of VAALCO Energy (NYSE:EGY – Get Rating) from a hold rating to a buy rating in a report released on Tuesday morning.

VAALCO Energy Stock Performance

Shares of EGY opened at $4.82 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.86. VAALCO Energy has a twelve month low of $3.67 and a twelve month high of $8.77. The firm’s 50 day moving average price is $4.73 and its two-hundred day moving average price is $4.96. The firm has a market cap of $522.37 million, a P/E ratio of 4.23 and a beta of 1.64.

VAALCO Energy (NYSE:EGY – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The energy company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.40. The firm had revenue of $78.10 million for the quarter, compared to analyst estimates of $62.58 million. VAALCO Energy had a net margin of 21.81% and a return on equity of 60.93%. On average, analysts forecast that VAALCO Energy will post 1.69 EPS for the current fiscal year.

VAALCO Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Tuesday, November 22nd were given a $0.032 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, November 21st. VAALCO Energy’s dividend payout ratio is presently 11.40%.

Insider Transactions at VAALCO Energy

In other news, COO Thor Pruckl sold 37,337 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $5.34, for a total value of $199,379.58. Following the sale, the chief operating officer now owns 96,238 shares of the company’s stock, valued at $513,910.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On VAALCO Energy

A number of institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in VAALCO Energy by 1.4% during the second quarter. UMB Bank n.a. now owns 150,000 shares of the energy company’s stock worth $1,041,000 after buying an additional 2,000 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its holdings in shares of VAALCO Energy by 5.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 39,101 shares of the energy company’s stock valued at $255,000 after purchasing an additional 2,023 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of VAALCO Energy by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 126,287 shares of the energy company’s stock valued at $576,000 after purchasing an additional 2,096 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of VAALCO Energy by 1.7% in the third quarter. Foundry Partners LLC now owns 132,195 shares of the energy company’s stock valued at $576,000 after purchasing an additional 2,221 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of VAALCO Energy by 2.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 88,364 shares of the energy company’s stock valued at $403,000 after purchasing an additional 2,528 shares during the last quarter. 31.61% of the stock is currently owned by institutional investors and hedge funds.

VAALCO Energy Company Profile

(Get Rating)

VAALCO Energy, Inc engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon and Equatorial Guinea. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation.