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

StockNews.com cut shares of VAALCO Energy (NYSE:EGY) from a strong-buy rating to a buy rating in a report published on Friday.

VAALCO Energy Price Performance

Shares of VAALCO Energy stock opened at $6.39 on Friday. The business has a 50-day moving average price of $5.83 and a 200 day moving average price of $4.92. VAALCO Energy has a twelve month low of $3.51 and a twelve month high of $7.51. The firm has a market cap of $659.90 million, a PE ratio of 11.41 and a beta of 1.29. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.22. The firm had revenue of $149.15 million during the quarter, compared to the consensus estimate of $130.53 million. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. Sell-side analysts predict that VAALCO Energy will post 0.2 earnings per share for the current fiscal year.

VAALCO Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 3.94%. This is a boost from VAALCO Energy’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, March 7th. VAALCO Energy’s payout ratio is presently 44.64%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foundry Partners LLC raised its position in shares of VAALCO Energy by 65.4% in the fourth quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock valued at $3,939,000 after buying an additional 347,005 shares during the last quarter. American Century Companies Inc. grew its stake in VAALCO Energy by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock valued at $5,234,000 after acquiring an additional 138,810 shares in the last quarter. Swiss National Bank raised its holdings in VAALCO Energy by 1.3% in the 3rd quarter. Swiss National Bank now owns 237,100 shares of the energy company’s stock valued at $1,041,000 after acquiring an additional 3,100 shares during the last quarter. Vanguard Group Inc. lifted its stake in VAALCO Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,666,535 shares of the energy company’s stock worth $24,876,000 after purchasing an additional 26,551 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in VAALCO Energy by 22.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,739 shares of the energy company’s stock worth $89,000 after purchasing an additional 3,650 shares in 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.