VAALCO Energy (NYSE:EGY) Lowered to “Buy” at StockNews.com

VAALCO Energy (NYSE:EGY) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

VAALCO Energy Price Performance

Shares of EGY opened at $6.39 on Friday. VAALCO Energy has a twelve month low of $3.51 and a twelve month high of $7.51. The firm’s fifty day simple moving average is $5.83 and its 200-day simple moving average is $4.91. The firm has a market capitalization of $659.90 million, a price-to-earnings ratio of 11.41 and a beta of 1.29. The company has a current ratio of 1.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.16.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The business had revenue of $149.15 million for the quarter, compared to analyst estimates of $130.53 million. Equities analysts forecast that VAALCO Energy will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently bought and sold shares of EGY. Foundry Partners LLC grew its position in VAALCO Energy by 65.4% during the 4th quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock worth $3,939,000 after purchasing an additional 347,005 shares during the last quarter. American Century Companies Inc. grew its position in VAALCO Energy by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock worth $5,234,000 after purchasing an additional 138,810 shares during the last quarter. Swiss National Bank grew its position in VAALCO Energy by 1.3% during the 3rd quarter. Swiss National Bank now owns 237,100 shares of the energy company’s stock worth $1,041,000 after purchasing an additional 3,100 shares during the last quarter. Vanguard Group Inc. grew its position in VAALCO Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,666,535 shares of the energy company’s stock worth $24,876,000 after purchasing an additional 26,551 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in VAALCO Energy by 22.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,739 shares of the energy company’s stock worth $89,000 after purchasing an additional 3,650 shares during the last quarter. 50.32% of the stock is currently owned by institutional investors and hedge funds.

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.