Vaalco Energy (NYSE:EGY) Shares Down 5% – Here’s What Happened

Vaalco Energy Inc (NYSE:EGY) shares fell 5% on Thursday . The stock traded as low as $5.22 and last traded at $5.2150. 433,182 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,477,193 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded Vaalco Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Vaalco Energy currently has an average rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Trading Down 0.7%

The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average is $5.54 and its two-hundred day moving average is $5.26. The firm has a market cap of $546.83 million, a P/E ratio of -3.83 and a beta of 0.09.

Vaalco Energy (NYSE:EGY) last issued its earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%.The business had revenue of $62.60 million during the quarter, compared to the consensus estimate of $78.20 million. As a group, analysts expect that Vaalco Energy Inc will post 0.11 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 22nd were issued a $0.0625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.25 annualized dividend and a dividend yield of 4.8%. Vaalco Energy’s dividend payout ratio (DPR) is -18.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Howard Financial Services LTD. bought a new stake in Vaalco Energy in the second quarter valued at $250,000. Segall Bryant & Hamill LLC increased its holdings in shares of Vaalco Energy by 23.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 334,558 shares of the energy company’s stock worth $2,121,000 after acquiring an additional 64,566 shares during the period. Bank of America Corp DE increased its holdings in shares of Vaalco Energy by 94.8% in the 1st quarter. Bank of America Corp DE now owns 404,434 shares of the energy company’s stock worth $2,564,000 after acquiring an additional 196,791 shares during the period. Empowered Funds LLC lifted its position in Vaalco Energy by 8.4% in the 1st quarter. Empowered Funds LLC now owns 582,497 shares of the energy company’s stock valued at $3,693,000 after purchasing an additional 45,157 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Vaalco Energy during the 1st quarter valued at about $330,000. 50.32% of the stock is currently owned by institutional investors.

About Vaalco Energy

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.