VAALCO Energy (NYSE:EGY) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

VAALCO Energy Trading Down 2.1 %

Shares of EGY stock opened at $4.29 on Thursday. VAALCO Energy has a 52-week low of $4.03 and a 52-week high of $7.51. The business’s fifty day moving average is $5.32 and its 200 day moving average is $5.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34. The company has a market capitalization of $445.06 million, a PE ratio of 5.05 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The business had revenue of $140.33 million for the quarter, compared to the consensus estimate 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 business posted $0.07 EPS. On average, equities research analysts anticipate that VAALCO Energy will post 0.5 EPS for the current fiscal year.

VAALCO Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend is Friday, November 22nd. VAALCO Energy’s payout ratio is 29.41%.

Institutional Trading of VAALCO Energy

A number of hedge funds have recently made changes to their positions in EGY. Zacks Investment Management increased its stake in VAALCO Energy by 19.6% in the third 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 last quarter. Lakewood Asset Management LLC boosted its holdings in shares of VAALCO Energy by 7.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 47,424 shares of the energy company’s stock worth $272,000 after purchasing an additional 3,314 shares in the last quarter. Morgan Dempsey Capital Management LLC increased its position in shares of VAALCO Energy by 5.1% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 79,559 shares of the energy company’s stock valued at $499,000 after purchasing an additional 3,836 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of VAALCO Energy by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 168,581 shares of the energy company’s stock valued at $1,057,000 after buying an additional 3,978 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of VAALCO Energy by 25.9% during the 3rd quarter. SG Americas Securities LLC now owns 19,352 shares of the energy company’s stock valued at $111,000 after buying an additional 3,978 shares in the last quarter. 50.32% of the stock is owned by institutional investors.

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.