VAALCO Energy (NYSE:EGY) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of VAALCO Energy (NYSE:EGY) from a hold rating to a buy rating in a research report sent to investors on Monday.

VAALCO Energy Trading Down 2.8 %

EGY opened at $4.42 on Monday. The firm has a market cap of $464.02 million, a price-to-earnings ratio of 5.19 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. VAALCO Energy has a 12 month low of $4.03 and a 12 month high of $7.51. The stock has a fifty day moving average price of $4.75 and a 200-day moving average price of $5.65.

VAALCO Energy (NYSE:EGY) last posted its quarterly 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). The firm had revenue of $140.33 million for the quarter, compared to analysts’ expectations of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts anticipate that VAALCO Energy will post 0.43 earnings per share for the current fiscal year.

VAALCO Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 22nd were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 5.66%. VAALCO Energy’s payout ratio is 29.41%.

Institutional Investors Weigh In On VAALCO Energy

A number of institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in VAALCO Energy during the 3rd quarter worth about $60,000. Crestmont Private Wealth LLC acquired a new position in VAALCO Energy in the 3rd quarter valued at about $63,000. Zacks Investment Management increased its position in VAALCO Energy by 19.6% in the 3rd quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock valued at $89,000 after acquiring an additional 2,527 shares during the period. Mackenzie Financial Corp acquired a new position in VAALCO Energy in the 2nd quarter valued at about $110,000. Finally, Quantinno Capital Management LP acquired a new position in VAALCO Energy during the 3rd quarter worth approximately $109,000. 50.32% of the stock is owned by institutional investors and hedge funds.

About VAALCO Energy

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.