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

StockNews.com lowered shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a report issued on Tuesday morning.

VAALCO Energy Stock Performance

NYSE EGY traded up $0.13 during trading hours on Tuesday, hitting $5.43. 213,081 shares of the company’s stock traded hands, compared to its average volume of 980,976. VAALCO Energy has a 52 week low of $4.01 and a 52 week high of $7.51. The company has a current ratio of 1.34, a quick ratio of 1.15 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $563.31 million, a P/E ratio of 6.22 and a beta of 1.19. The business’s fifty day moving average price is $5.74 and its two-hundred day moving average price is $6.16.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The business had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. During the same period last year, the company earned $0.07 EPS. Equities research analysts predict that VAALCO Energy will post 0.5 EPS for the current year.

VAALCO Energy Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EGY. Vanguard Group Inc. lifted its holdings in shares of VAALCO Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock worth $41,988,000 after acquiring an additional 124,853 shares during the last quarter. American Century Companies Inc. lifted its stake in VAALCO Energy by 33.2% in the second quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after purchasing an additional 701,568 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of VAALCO Energy by 5.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock valued at $14,574,000 after buying an additional 121,005 shares during the period. First Sabrepoint Capital Management LP grew its stake in shares of VAALCO Energy by 5.3% during the first quarter. First Sabrepoint Capital Management LP now owns 1,790,000 shares of the energy company’s stock valued at $12,476,000 after buying an additional 90,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of VAALCO Energy by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 1,318,650 shares of the energy company’s stock worth $8,268,000 after buying an additional 76,779 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.