VAALCO Energy (NYSE:EGY) Downgraded by StockNews.com

VAALCO Energy (NYSE:EGY) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $6.43 on Friday. The firm has a market cap of $663.51 million, a price-to-earnings ratio of 11.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79. VAALCO Energy has a 52 week low of $3.51 and a 52 week high of $7.51. The firm’s 50-day simple moving average is $5.79 and its two-hundred day simple moving average is $4.89.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The business had revenue of $149.15 million for the quarter, compared to analyst estimates of $130.53 million. As a group, equities analysts forecast that VAALCO Energy will post 0.2 earnings per share for the current year.

Institutional Trading of VAALCO Energy

Several hedge funds and other institutional investors have recently modified their holdings of EGY. DekaBank Deutsche Girozentrale bought a new stake in shares of VAALCO Energy in the third quarter valued at approximately $38,000. Bleakley Financial Group LLC purchased a new position in VAALCO Energy during the fourth quarter valued at approximately $52,000. Simplicity Solutions LLC purchased a new position in VAALCO Energy during the fourth quarter valued at approximately $52,000. Navellier & Associates Inc. purchased a new position in VAALCO Energy during the third quarter valued at approximately $67,000. Finally, Principal Financial Group Inc. grew its stake in VAALCO Energy by 34.7% during the third quarter. Principal Financial Group Inc. now owns 15,609 shares of the energy company’s stock valued at $69,000 after acquiring an additional 4,020 shares in the last quarter. Institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.