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

StockNews.com upgraded shares of VAALCO Energy (NYSE:EGY) from a hold rating to a buy rating in a report released on Monday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.55 on Monday. The company’s fifty day moving average price is $4.76 and its 200-day moving average price is $5.66. The stock has a market cap of $477.66 million, a PE ratio of 5.35 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. VAALCO Energy has a 12 month low of $4.03 and a 12 month high of $7.51.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.04). The business had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. During the same period in the previous year, the firm earned $0.07 EPS. On average, equities analysts expect that VAALCO Energy will post 0.43 EPS for the current fiscal year.

VAALCO Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 22nd were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EGY. State Street Corp increased its stake in VAALCO Energy by 4.3% during the 3rd quarter. State Street Corp now owns 4,285,378 shares of the energy company’s stock valued at $24,598,000 after purchasing an additional 176,259 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of VAALCO Energy by 5.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock valued at $14,574,000 after acquiring an additional 121,005 shares in the last quarter. Geode Capital Management LLC raised its holdings in VAALCO Energy by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,493,587 shares of the energy company’s stock worth $14,316,000 after acquiring an additional 109,090 shares during the last quarter. Foundry Partners LLC lifted its position in VAALCO Energy by 156.8% in the 3rd quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock valued at $6,891,000 after acquiring an additional 733,084 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in VAALCO Energy by 66.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock valued at $5,527,000 after purchasing an additional 386,071 shares during the last quarter. Hedge funds and other institutional investors own 50.32% of the company’s stock.

VAALCO Energy Company Profile

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.