StockNews.com Upgrades VAALCO Energy (NYSE:EGY) to “Buy”

VAALCO Energy (NYSE:EGY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

VAALCO Energy Stock Performance

Shares of EGY opened at $4.34 on Friday. The company has a 50-day moving average of $4.23 and a two-hundred day moving average of $5.00. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The stock has a market cap of $455.59 million, a P/E ratio of 5.10 and a beta of 1.16. VAALCO Energy has a 12-month low of $3.57 and a 12-month high of $7.51.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings data on Thursday, March 13th. The energy company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $121.72 million during the quarter, compared to analyst estimates of $108.91 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. As a group, research analysts predict that VAALCO Energy will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On VAALCO Energy

A number of institutional investors have recently modified their holdings of the company. Zacks Investment Management raised its position in shares of 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 buying an additional 2,527 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in VAALCO Energy by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,794 shares of the energy company’s stock valued at $261,000 after purchasing an additional 2,584 shares during the period. Segall Bryant & Hamill LLC grew its holdings in VAALCO Energy by 1.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 294,929 shares of the energy company’s stock valued at $1,289,000 after purchasing an additional 2,875 shares during the period. MetLife Investment Management LLC grew its holdings in VAALCO Energy by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 55,639 shares of the energy company’s stock valued at $243,000 after purchasing an additional 3,142 shares during the period. Finally, Catalina Capital Group LLC grew its holdings in VAALCO Energy by 19.5% in the fourth quarter. Catalina Capital Group LLC now owns 20,334 shares of the energy company’s stock valued at $89,000 after purchasing an additional 3,315 shares during the period. Institutional investors and hedge funds own 50.32% of the company’s stock.

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.