VAALCO Energy (NYSE:EGY) Rating Increased to Buy at StockNews.com

VAALCO Energy (NYSE:EGY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

VAALCO Energy Stock Down 0.1 %

Shares of NYSE EGY traded down $0.01 during midday trading on Monday, hitting $4.55. The company’s stock had a trading volume of 563,842 shares, compared to its average volume of 819,980. VAALCO Energy has a 1 year low of $4.03 and a 1 year high of $7.51. The business’s fifty day simple moving average is $4.76 and its two-hundred day simple moving average is $5.66. The firm has a market capitalization of $477.66 million, a price-to-earnings ratio of 5.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million during the quarter, compared to analyst estimates of $128.64 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts predict that VAALCO Energy will post 0.43 EPS for the current year.

Institutional Investors Weigh In On VAALCO Energy

Several institutional investors have recently modified their holdings of the company. Zacks Investment Management increased its holdings in VAALCO Energy by 19.6% in the third quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock valued at $89,000 after buying an additional 2,527 shares during the last quarter. Lakewood Asset Management LLC increased its holdings in shares of VAALCO Energy by 7.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 47,424 shares of the energy company’s stock valued at $272,000 after acquiring an additional 3,314 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of VAALCO Energy by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 168,581 shares of the energy company’s stock valued at $1,057,000 after acquiring an additional 3,978 shares during the last quarter. SG Americas Securities LLC raised its position in shares of VAALCO Energy by 25.9% during the 3rd quarter. SG Americas Securities LLC now owns 19,352 shares of the energy company’s stock worth $111,000 after acquiring an additional 3,978 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in VAALCO Energy by 8.3% during the third quarter. Victory Capital Management Inc. now owns 107,623 shares of the energy company’s stock worth $618,000 after purchasing an additional 8,209 shares during the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.

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.