VAALCO Energy (NYSE:EGY) Hits New 12-Month High at $7.42

VAALCO Energy, Inc. (NYSE:EGYGet Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.42 and last traded at $7.41, with a volume of 156496 shares changing hands. The stock had previously closed at $7.21.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered VAALCO Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 23rd.

Read Our Latest Research Report on EGY

VAALCO Energy Stock Performance

The firm has a fifty day moving average price of $4.84 and a 200 day moving average price of $4.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79. The stock has a market cap of $752.84 million, a PE ratio of 12.85 and a beta of 1.29.

VAALCO Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from VAALCO Energy’s previous quarterly dividend of $0.06. VAALCO Energy’s dividend payout ratio is currently 44.64%.

Hedge Funds Weigh In On VAALCO Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in VAALCO Energy by 66.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 23,576 shares of the energy company’s stock worth $154,000 after acquiring an additional 9,376 shares during the period. JPMorgan Chase & Co. lifted its position in VAALCO Energy by 1,189.3% during the 1st quarter. JPMorgan Chase & Co. now owns 154,276 shares of the energy company’s stock worth $1,007,000 after acquiring an additional 142,310 shares during the period. Bank of New York Mellon Corp lifted its position in VAALCO Energy by 15.3% during the 1st quarter. Bank of New York Mellon Corp now owns 721,459 shares of the energy company’s stock worth $4,711,000 after acquiring an additional 95,474 shares during the period. American Century Companies Inc. lifted its position in VAALCO Energy by 68.0% during the 1st quarter. American Century Companies Inc. now owns 69,286 shares of the energy company’s stock worth $452,000 after acquiring an additional 28,038 shares during the period. Finally, Citigroup Inc. acquired a new stake in VAALCO Energy during the 1st quarter worth about $944,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

VAALCO Energy Company Profile

(Get Free Report)

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.

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