VAALCO Energy (NYSE:EGY) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of VAALCO Energy (NYSE:EGYFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

VAALCO Energy Stock Performance

NYSE EGY opened at $5.97 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.66 and a quick ratio of 1.64. The stock has a market capitalization of $617.12 million, a P/E ratio of 9.94 and a beta of 1.18. The firm’s 50-day moving average is $6.50 and its two-hundred day moving average is $5.28. VAALCO Energy has a 12 month low of $3.55 and a 12 month high of $7.51.

VAALCO Energy (NYSE:EGYGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $100.16 million for the quarter, compared to analyst estimates of $91.23 million. VAALCO Energy had a net margin of 13.60% and a return on equity of 14.04%. On average, sell-side analysts anticipate that VAALCO Energy will post 0.2 earnings per share for the current year.

VAALCO Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.063 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.25 dividend on an annualized basis and a yield of 4.22%. VAALCO Energy’s dividend payout ratio (DPR) is presently 41.67%.

Institutional Trading of VAALCO Energy

A number of institutional investors and hedge funds have recently bought and sold shares of EGY. Foundry Partners LLC increased its stake in VAALCO Energy by 65.4% during the fourth quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock worth $3,939,000 after purchasing an additional 347,005 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of VAALCO Energy during the third quarter worth approximately $1,017,000. American Century Companies Inc. increased its stake in shares of VAALCO Energy by 13.2% during the third quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock worth $5,234,000 after buying an additional 138,810 shares during the period. Vanguard Group Inc. increased its stake in shares of VAALCO Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock worth $41,988,000 after buying an additional 124,853 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of VAALCO Energy during the fourth quarter worth approximately $502,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

About VAALCO Energy

(Get Free Report)

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.

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