Vaalco Energy (NYSE:EGY) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Vaalco Energy (NYSE:EGY) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

EGY has been the topic of several other reports. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a report on Friday, January 16th. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Finally, Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vaalco Energy has a consensus rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Price Performance

EGY stock opened at $5.47 on Wednesday. The stock’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.08. Vaalco Energy has a 52-week low of $3.00 and a 52-week high of $5.55. The company has a market capitalization of $570.30 million, a PE ratio of 20.26 and a beta of 0.21. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.24.

Vaalco Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 27th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, February 27th. Vaalco Energy’s payout ratio is 92.59%.

Hedge Funds Weigh In On Vaalco Energy

Several large investors have recently added to or reduced their stakes in EGY. AQR Capital Management LLC boosted its holdings in Vaalco Energy by 228.0% in the first quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company’s stock worth $2,799,000 after purchasing an additional 517,368 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Vaalco Energy by 14.5% during the first quarter. NewEdge Advisors LLC now owns 54,171 shares of the energy company’s stock worth $204,000 after purchasing an additional 6,840 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Vaalco Energy by 32.9% during the first quarter. Goldman Sachs Group Inc. now owns 737,435 shares of the energy company’s stock worth $2,773,000 after purchasing an additional 182,489 shares during the period. Caxton Associates LLP bought a new position in shares of Vaalco Energy in the 1st quarter worth about $136,000. Finally, Empowered Funds LLC boosted its holdings in shares of Vaalco Energy by 5.6% in the 1st quarter. Empowered Funds LLC now owns 573,580 shares of the energy company’s stock valued at $2,157,000 after buying an additional 30,295 shares during the period. 50.32% of the stock is currently owned by institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.