Vaalco Energy (NYSE:EGY) Reaches New 12-Month High – What’s Next?

Shares of Vaalco Energy Inc (NYSE:EGY) reached a new 52-week high on Monday . The stock traded as high as $5.60 and last traded at $5.53, with a volume of 382064 shares traded. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

EGY has been the topic of several research reports. Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Loop Capital set a $7.30 target price on shares of Vaalco Energy in a research report on Friday, January 16th. Zacks Research cut shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $581.77 million, a price-to-earnings ratio of 20.67 and a beta of 0.21. The business’s 50 day simple moving average is $4.62 and its 200-day simple moving average is $4.09.

Vaalco Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 27th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, February 27th. Vaalco Energy’s dividend payout ratio (DPR) is 92.59%.

Hedge Funds Weigh In On Vaalco Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Vaalco Energy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock worth $144,000 after buying an additional 2,885 shares in the last quarter. Intech Investment Management LLC boosted its stake in Vaalco Energy by 5.0% in the third quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock valued at $253,000 after buying an additional 2,977 shares in the last quarter. GF Fund Management CO. LTD. boosted its stake in Vaalco Energy by 11.1% in the fourth quarter. GF Fund Management CO. LTD. now owns 31,300 shares of the energy company’s stock valued at $114,000 after buying an additional 3,136 shares in the last quarter. Lakewood Asset Management LLC grew its position in Vaalco Energy by 7.1% in the fourth quarter. Lakewood Asset Management LLC now owns 51,178 shares of the energy company’s stock valued at $186,000 after acquiring an additional 3,389 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its stake in Vaalco Energy by 31.1% during the second quarter. Ausdal Financial Partners Inc. now owns 15,641 shares of the energy company’s stock worth $56,000 after acquiring an additional 3,712 shares in the last quarter. Institutional investors own 50.32% of the company’s stock.

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.