Vaalco Energy (NYSE:EGY) Hits New 1-Year High – What’s Next?

Vaalco Energy Inc (NYSE:EGY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.80 and last traded at $4.8140, with a volume of 230863 shares changing hands. The stock had previously closed at $4.56.

Analysts Set New Price Targets

Several equities research analysts recently commented on EGY shares. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research note on Friday, January 16th. Finally, Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.30.

Vaalco Energy Price Performance

The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $3.81. The firm has a market cap of $494.19 million, a PE ratio of 17.56 and a beta of 0.22.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings data on Monday, November 10th. The energy company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $61.01 million during the quarter, compared to the consensus estimate of $74.30 million. Vaalco Energy had a return on equity of 1.02% and a net margin of 7.40%. Equities analysts anticipate that Vaalco Energy Inc will post 0.43 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Friday, November 21st were given a dividend of $0.0625 per share. The ex-dividend date was Friday, November 21st. This represents a $0.25 annualized dividend and a dividend yield of 5.3%. Vaalco Energy’s dividend payout ratio (DPR) is presently 92.59%.

Hedge Funds Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of EGY. AQR Capital Management LLC increased its holdings in shares of Vaalco Energy by 228.0% in the 1st quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company’s stock worth $2,799,000 after buying an additional 517,368 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Vaalco Energy by 14.5% in the 1st quarter. NewEdge Advisors LLC now owns 54,171 shares of the energy company’s stock worth $204,000 after purchasing an additional 6,840 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Vaalco Energy by 32.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 737,435 shares of the energy company’s stock worth $2,773,000 after purchasing an additional 182,489 shares during the period. Caxton Associates LLP bought a new position in shares of Vaalco Energy during the 1st quarter valued at approximately $136,000. Finally, Empowered Funds LLC lifted its position in Vaalco Energy by 5.6% in the first quarter. Empowered Funds LLC now owns 573,580 shares of the energy company’s stock worth $2,157,000 after buying an additional 30,295 shares during the last quarter. Institutional investors own 50.32% of the company’s stock.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.