VAALCO Energy (NYSE:EGY) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research report report published on Tuesday morning.

VAALCO Energy Stock Up 2.5 %

Shares of NYSE EGY traded up $0.13 during mid-day trading on Tuesday, reaching $5.43. 213,081 shares of the company were exchanged, compared to its average volume of 980,976. VAALCO Energy has a 1 year low of $4.01 and a 1 year high of $7.51. The firm has a 50-day moving average of $5.74 and a 200 day moving average of $6.16. The stock has a market cap of $563.31 million, a price-to-earnings ratio of 6.22 and a beta of 1.19. The company has a quick ratio of 1.15, a current ratio of 1.34 and a debt-to-equity ratio of 0.14.

VAALCO Energy (NYSE:EGY) last announced its earnings results 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). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The firm had revenue of $140.33 million during the quarter, compared to analyst estimates of $128.64 million. During the same quarter last year, the business earned $0.07 earnings per share. On average, research analysts expect that VAALCO Energy will post 0.5 earnings per share for the current year.

VAALCO Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.0625 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.25 annualized dividend and a dividend yield of 4.60%. VAALCO Energy’s payout ratio is currently 29.41%.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds have recently made changes to their positions in EGY. Gladius Capital Management LP purchased a new stake in VAALCO Energy during the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in VAALCO Energy in the second quarter valued at approximately $60,000. nVerses Capital LLC purchased a new stake in VAALCO Energy in the 3rd quarter worth approximately $60,000. Crestmont Private Wealth LLC acquired a new stake in shares of VAALCO Energy during the 3rd quarter worth approximately $63,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of VAALCO Energy during the 2nd quarter valued at approximately $64,000. 50.32% of the stock is 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.