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

VAALCO Energy (NYSE:EGY) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

VAALCO Energy Price Performance

Shares of EGY opened at $6.39 on Friday. The company has a market cap of $659.90 million, a price-to-earnings ratio of 11.41 and a beta of 1.29. VAALCO Energy has a twelve month low of $3.51 and a twelve month high of $7.51. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $5.83 and a two-hundred day moving average of $4.91.

VAALCO Energy (NYSE:EGY) last announced its earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The company had revenue of $149.15 million during the quarter, compared to the consensus estimate of $130.53 million. As a group, analysts predict that VAALCO Energy will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VAALCO Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new position in VAALCO Energy during the third quarter valued at $38,000. Bleakley Financial Group LLC acquired a new position in VAALCO Energy during the fourth quarter valued at $52,000. Simplicity Solutions LLC acquired a new position in VAALCO Energy during the fourth quarter valued at $52,000. Navellier & Associates Inc. acquired a new position in VAALCO Energy during the third quarter valued at $67,000. Finally, Principal Financial Group Inc. lifted its position in VAALCO Energy by 34.7% during the third quarter. Principal Financial Group Inc. now owns 15,609 shares of the energy company’s stock valued at $69,000 after purchasing an additional 4,020 shares during the period. 50.32% of the stock is currently 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.