VAALCO Energy (NYSE:EGY) Upgraded 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 Monday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.42 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34. VAALCO Energy has a fifty-two week low of $4.03 and a fifty-two week high of $7.51. The stock has a 50 day moving average price of $4.75 and a two-hundred day moving average price of $5.65. The company has a market capitalization of $464.02 million, a P/E ratio of 5.19 and a beta of 1.19.

VAALCO Energy (NYSE:EGY) last announced its earnings results on Monday, November 11th. The energy company reported $0.08 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 in the prior year, the company earned $0.07 EPS. Analysts expect that VAALCO Energy will post 0.43 earnings per share for the current year.

VAALCO Energy Cuts Dividend

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

Institutional Investors Weigh In On VAALCO Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of VAALCO Energy during the third quarter valued at $173,000. Barclays PLC raised its stake in shares of VAALCO Energy by 319.0% in the third quarter. Barclays PLC now owns 160,736 shares of the energy company’s stock worth $923,000 after buying an additional 122,373 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $5,527,000 after buying an additional 386,071 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in shares of VAALCO Energy by 5.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock worth $14,574,000 after buying an additional 121,005 shares during the period. Finally, Foundry Partners LLC raised 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 period. 50.32% of the stock is owned by hedge funds and other institutional investors.

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.