VAALCO Energy (NYSE:EGY) Cut to Hold at StockNews.com

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

VAALCO Energy Stock Performance

Shares of EGY stock opened at $5.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.15. VAALCO Energy has a one year low of $4.01 and a one year high of $7.51. The business’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $6.16. The stock has a market capitalization of $546.19 million, a PE ratio of 6.19 and a beta of 1.19.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings data 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). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The business had revenue of $140.33 million during the quarter, compared to analyst estimates of $128.64 million. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, research analysts forecast that VAALCO Energy will post 0.5 earnings per share for the current year.

VAALCO Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be given a dividend of $0.0625 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.75%. VAALCO Energy’s payout ratio is presently 29.41%.

Institutional Inflows and Outflows

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