VAALCO Energy (NYSE:EGY) Shares Up 4.3% Following Dividend Announcement

VAALCO Energy, Inc. (NYSE:EGY)’s stock price rose 4.3% during trading on Tuesday after the company announced a dividend. The stock traded as high as $5.88 and last traded at $5.77. Approximately 184,184 shares were traded during trading, a decline of 81% from the average daily volume of 977,162 shares. The stock had previously closed at $5.53.

The newly announced dividend which will be paid on Friday, December 20th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered VAALCO Energy from a “buy” rating to a “hold” rating in a research report on Tuesday.

VAALCO Energy Stock Up 1.9 %

The firm’s fifty day simple moving average is $5.74 and its 200 day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.19. The stock has a market capitalization of $560.20 million, a price-to-earnings ratio of 6.35 and a beta of 1.19.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The firm had revenue of $140.33 million for the quarter, compared to analyst estimates of $128.64 million. VAALCO Energy had a return on equity of 15.79% and a net margin of 17.93%. During the same period in the prior year, the company earned $0.07 earnings per share. On average, sell-side analysts forecast that VAALCO Energy, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGY. Vanguard Group Inc. grew its holdings in shares of VAALCO Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock valued at $41,988,000 after acquiring an additional 124,853 shares in the last quarter. American Century Companies Inc. increased its position in shares of VAALCO Energy by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after purchasing an additional 701,568 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of VAALCO Energy by 5.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock worth $14,574,000 after purchasing an additional 121,005 shares during the last quarter. First Sabrepoint Capital Management LP raised its stake in shares of VAALCO Energy by 5.3% during the 1st quarter. First Sabrepoint Capital Management LP now owns 1,790,000 shares of the energy company’s stock worth $12,476,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of VAALCO Energy by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,318,650 shares of the energy company’s stock valued at $8,268,000 after buying an additional 76,779 shares during the last quarter. 50.32% of the stock is currently owned by institutional investors and hedge funds.

VAALCO Energy Company Profile

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.