Vaalco Energy (NYSE:EGY) Stock Falls 6.4% – What’s Next?

Shares of Vaalco Energy Inc (NYSE:EGY) were down 6.4% during trading on Monday. The company traded as low as $5.99 and last traded at $6.0270. Approximately 408,054 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,392,021 shares. The stock had previously closed at $6.44.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Vaalco Energy has an average rating of “Hold” and an average price target of $7.30.

Vaalco Energy Stock Performance

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 firm has a 50 day moving average price of $6.04 and a 200 day moving average price of $5.64. The stock has a market cap of $589.48 million, a PE ratio of -5.29 and a beta of 0.21.

Vaalco Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, August 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, August 21st. Vaalco Energy’s dividend payout ratio is presently -23.58%.

Hedge Funds Weigh In On Vaalco Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EGY. StoneX Group Inc. grew its stake in Vaalco Energy by 108.1% in the third quarter. StoneX Group Inc. now owns 27,772 shares of the energy company’s stock valued at $160,000 after purchasing an additional 14,427 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Vaalco Energy by 58.1% in the third quarter. Commonwealth Equity Services LLC now owns 18,892 shares of the energy company’s stock worth $107,000 after purchasing an additional 6,946 shares in the last quarter. Lakewood Asset Management LLC raised its holdings in Vaalco Energy by 6.3% in the third quarter. Lakewood Asset Management LLC now owns 58,918 shares of the energy company’s stock worth $333,000 after purchasing an additional 3,495 shares in the last quarter. Cypress Capital LLC purchased a new stake in shares of Vaalco Energy during the third quarter valued at about $74,000. Finally, SummerHaven Investment Management LLC purchased a new stake in shares of Vaalco Energy during the third quarter valued at about $698,000. 50.32% of the stock is currently owned by institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. The company focuses primarily on producing assets and development opportunities in Africa and other international markets.

Vaalco has historically operated offshore Gabon, where it developed and produced oil from the Etame Marin field. The company has also expanded its international portfolio through interests and operations in Egypt, Equatorial Guinea and Côte d’Ivoire.