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

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

VAALCO Energy Stock Down 4.4 %

Shares of VAALCO Energy stock opened at $6.00 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.66 and a quick ratio of 1.64. VAALCO Energy has a 1 year low of $3.55 and a 1 year high of $7.51. The firm’s 50-day moving average is $6.53 and its two-hundred day moving average is $5.14. The stock has a market cap of $620.24 million, a price-to-earnings ratio of 9.99 and a beta of 1.32.

VAALCO Energy (NYSE:EGY) last issued its earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.22. The company had revenue of $149.15 million for the quarter, compared to analysts’ expectations of $130.53 million. VAALCO Energy had a net margin of 13.60% and a return on equity of 14.04%. As a group, research analysts expect that VAALCO Energy will post 0.2 earnings per share for the current fiscal year.

VAALCO Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be given a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, May 16th. VAALCO Energy’s payout ratio is 41.67%.

Institutional Investors Weigh In On VAALCO Energy

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of VAALCO Energy during the third quarter worth about $38,000. Bleakley Financial Group LLC purchased a new stake in shares of VAALCO Energy during the fourth quarter worth about $52,000. Simplicity Solutions LLC purchased a new stake in shares of VAALCO Energy during the fourth quarter worth about $52,000. Navellier & Associates Inc. purchased a new stake in shares of VAALCO Energy during the third quarter worth about $67,000. Finally, Principal Financial Group Inc. grew its stake in shares of VAALCO Energy by 34.7% during the third quarter. Principal Financial Group Inc. now owns 15,609 shares of the energy company’s stock worth $69,000 after acquiring an additional 4,020 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.