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

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

VAALCO Energy Stock Down 0.1 %

EGY opened at $4.55 on Monday. The company has a market cap of $477.66 million, a P/E ratio of 5.35 and a beta of 1.19. VAALCO Energy has a 12 month low of $4.03 and a 12 month high of $7.51. The business’s 50-day moving average price is $4.76 and its 200-day moving average price is $5.66. 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 (NYSE:EGY) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, equities analysts expect that VAALCO Energy will post 0.43 EPS for the current year.

VAALCO Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.0625 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.50%. VAALCO Energy’s dividend payout ratio is currently 29.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EGY. nVerses Capital LLC purchased a new position in VAALCO Energy during the 3rd quarter valued at $60,000. Crestmont Private Wealth LLC bought a new stake in shares of VAALCO Energy during the 3rd quarter valued at about $63,000. Zacks Investment Management increased its position in shares of VAALCO Energy by 19.6% during the third quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock valued at $89,000 after buying an additional 2,527 shares during the period. Quantinno Capital Management LP bought a new position in VAALCO Energy in the third quarter worth about $109,000. Finally, Mackenzie Financial Corp bought a new position in VAALCO Energy in the second quarter worth about $110,000. Hedge funds and other 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.