VAALCO Energy (NYSE:EGY) Rating Increased 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 note issued to investors on Wednesday morning.

VAALCO Energy Stock Up 0.4 %

NYSE EGY opened at $4.96 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. VAALCO Energy has a fifty-two week low of $4.03 and a fifty-two week high of $7.51. The business has a 50 day moving average price of $5.48 and a two-hundred day moving average price of $6.00. The stock has a market cap of $514.55 million, a PE ratio of 5.85 and a beta of 1.18.

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). The firm had revenue of $140.33 million during 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 last year, the company posted $0.07 earnings per share. As a group, sell-side analysts predict that VAALCO Energy will post 0.5 EPS for the current fiscal year.

VAALCO Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s payout ratio is 29.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EGY. Dimensional Fund Advisors LP increased its holdings in VAALCO Energy by 7,129.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 895,210 shares of the energy company’s stock worth $5,613,000 after purchasing an additional 882,827 shares during the last quarter. Foundry Partners LLC increased its stake in shares of VAALCO Energy by 156.8% in the third quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock worth $6,891,000 after buying an additional 733,084 shares during the last quarter. American Century Companies Inc. increased its stake in shares of VAALCO Energy by 33.2% in the second quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after buying an additional 701,568 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in VAALCO Energy by 66.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock valued at $5,527,000 after acquiring an additional 386,071 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in VAALCO Energy during the 3rd quarter valued at $1,676,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

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.