Vaalco Energy (NYSE:EGY) Trading 5.9% Higher – Here’s What Happened

Shares of Vaalco Energy Inc (NYSE:EGY) shot up 5.9% during mid-day trading on Thursday . The stock traded as high as $6.52 and last traded at $6.4490. 187,559 shares were traded during trading, a decline of 88% from the average session volume of 1,505,717 shares. The stock had previously closed at $6.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EGY shares. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Loop Capital set a $7.30 target price on shares of Vaalco Energy in a report on Friday, January 16th. Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Price Performance

The firm has a market capitalization of $658.19 million, a price-to-earnings ratio of -15.81 and a beta of 0.19. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $5.34 and a two-hundred day moving average price of $4.34.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $91.04 million for the quarter, compared to analyst estimates of $76.30 million. Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. As a group, research analysts forecast that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, February 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.25 annualized dividend and a dividend yield of 4.0%. Vaalco Energy’s payout ratio is -62.50%.

Hedge Funds Weigh In On Vaalco Energy

Institutional investors have recently modified their holdings of the company. UBS Group AG increased its holdings in shares of Vaalco Energy by 154.9% in the 4th quarter. UBS Group AG now owns 1,326,729 shares of the energy company’s stock worth $4,829,000 after acquiring an additional 806,283 shares during the period. Gamco Investors INC. ET AL acquired a new position in Vaalco Energy during the 2nd quarter valued at about $2,770,000. AQR Capital Management LLC grew its position in Vaalco Energy by 228.0% in the 1st 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 last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Vaalco Energy in the fourth quarter valued at approximately $1,638,000. Finally, Lazard Asset Management LLC bought a new position in Vaalco Energy in the 3rd quarter worth approximately $1,383,000. Institutional investors own 50.32% of the company’s stock.

About Vaalco Energy

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.