Vaalco Energy (NYSE:EGY) Shares Gap Down – Here’s What Happened

Shares of Vaalco Energy Inc (NYSE:EGY) gapped down before the market opened on Wednesday . The stock had previously closed at $6.41, but opened at $5.73. Vaalco Energy shares last traded at $5.7950, with a volume of 703,286 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on EGY shares. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research report on Friday, January 16th. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Zacks Research cut shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Vaalco Energy presently has an average rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Price Performance

The stock’s 50-day simple moving average is $5.46 and its 200 day simple moving average is $4.40. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The company has a market cap of $618.78 million, a price-to-earnings ratio of -14.86 and a beta of 0.19.

Vaalco Energy (NYSE:EGY) last posted its earnings results on Thursday, March 12th. The energy company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The company had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million. On average, equities research analysts anticipate that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 27th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.25 dividend on an annualized basis and a yield of 4.2%. Vaalco Energy’s dividend payout ratio is presently -62.50%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Vaalco Energy by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after buying an additional 81,203 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Vaalco Energy by 7.2% during the third quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock worth $19,058,000 after purchasing an additional 316,570 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vaalco Energy by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company’s stock worth $15,001,000 after purchasing an additional 62,474 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Vaalco Energy by 0.9% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,228,660 shares of the energy company’s stock worth $11,752,000 after purchasing an additional 28,645 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Vaalco Energy by 154.9% during the fourth quarter. UBS Group AG now owns 1,326,729 shares of the energy company’s stock worth $4,829,000 after purchasing an additional 806,283 shares in the last quarter. Institutional investors and hedge funds 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.