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

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

VAALCO Energy Trading Up 4.2 %

NYSE EGY opened at $5.77 on Friday. VAALCO Energy has a 12 month low of $3.51 and a 12 month high of $5.81. The stock has a market cap of $606.77 million, a P/E ratio of 10.30 and a beta of 1.23. The stock’s fifty day moving average price is $4.39 and its 200-day moving average price is $4.40. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18.

VAALCO Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be paid a $0.063 dividend. This is a boost from VAALCO Energy’s previous quarterly dividend of $0.06. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, March 7th. VAALCO Energy’s dividend payout ratio is currently 44.64%.

Institutional Investors Weigh In On VAALCO Energy

Several institutional investors have recently modified their holdings of EGY. Metropolitan Life Insurance Co NY boosted its position in shares of VAALCO Energy by 80.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,446 shares of the energy company’s stock valued at $29,000 after buying an additional 2,872 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of VAALCO Energy during the third quarter valued at $38,000. Bank of America Corp DE purchased a new stake in shares of VAALCO Energy during the first quarter valued at $40,000. Prelude Capital Management LLC purchased a new stake in shares of VAALCO Energy during the third quarter valued at $44,000. Finally, Zacks Investment Management purchased a new stake in shares of VAALCO Energy during the second quarter valued at $45,000. 48.60% of the stock is owned by hedge funds and other institutional investors.

VAALCO Energy Company Profile

VAALCO Energy, Inc, an independent energy company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids. The company holds Etame production sharing contract related to the Etame Marin block located offshore in the Republic of Gabon in West Africa. It also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa.