Vaalco Energy (NYSE:EGY) Shares Gap Up – Time to Buy?

Vaalco Energy Inc (NYSE:EGY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.23, but opened at $5.45. Vaalco Energy shares last traded at $5.4330, with a volume of 90,414 shares trading hands.

Wall Street Analyst Weigh In

EGY has been the subject of a number of research reports. Weiss Ratings cut shares of Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Vaalco Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vaalco Energy currently has an average rating of “Reduce” and an average target price of $7.30.

Vaalco Energy Price Performance

The company’s fifty day moving average price is $5.57 and its 200 day moving average price is $5.26. The company has a market capitalization of $550.91 million, a P/E ratio of -3.86 and a beta of 0.09. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.60.

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

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders 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 yield of 4.7%. Vaalco Energy’s payout ratio is currently -18.25%.

Institutional Trading of Vaalco Energy

Several large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Vaalco Energy in the fourth quarter valued at about $1,638,000. North Star Investment Management Corp. lifted its position in Vaalco Energy by 159.4% during the first quarter. North Star Investment Management Corp. now owns 275,000 shares of the energy company’s stock worth $1,744,000 after purchasing an additional 169,000 shares during the period. UBS Group AG grew its stake in 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 buying an additional 806,283 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in 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 buying an additional 28,645 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in Vaalco Energy by 162.6% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 159,045 shares of the energy company’s stock valued at $579,000 after buying an additional 98,477 shares during the period. 50.32% of the stock is owned by institutional investors and hedge funds.

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.