Vaalco Energy (NYSE:EGY) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Vaalco Energy Inc (NYSE:EGY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.60 and traded as high as $6.00. Vaalco Energy shares last traded at $5.94, with a volume of 1,059,589 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGY. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vaalco Energy in a report on Friday, August 7th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $7.30.

Vaalco Energy Trading Up 2.9%

The company has a market capitalization of $648.18 million, a P/E ratio of -5.84 and a beta of 0.14. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average price of $5.44 and a 200 day moving average price of $5.60.

Vaalco Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, August 21st will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 21st. Vaalco Energy’s dividend payout ratio is currently -23.58%.

Hedge Funds Weigh In On Vaalco Energy

A number of institutional investors have recently made changes to their positions in EGY. California State Teachers Retirement System boosted its holdings in shares of Vaalco Energy by 30.2% during the 2nd quarter. California State Teachers Retirement System now owns 7,295 shares of the energy company’s stock valued at $37,000 after buying an additional 1,691 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Vaalco Energy in the 4th quarter valued at about $31,000. Pasadena Private Wealth LLC bought a new stake in shares of Vaalco Energy during the first quarter worth $63,000. CIBC Bancorp USA Inc. bought a new position in Vaalco Energy in the third quarter worth approximately $44,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vaalco Energy in the 3rd quarter valued at approximately $47,000. 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.