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

StockNews.com upgraded shares of VAALCO Energy (NYSE:EGY) from a hold rating to a buy rating in a research note published on Thursday.

VAALCO Energy Trading Up 6.0 %

Shares of VAALCO Energy stock opened at $3.45 on Thursday. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $4.33. VAALCO Energy has a 1 year low of $3.00 and a 1 year high of $7.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. The firm has a market cap of $362.00 million, a PE ratio of 4.05 and a beta of 0.87.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. Analysts expect that VAALCO Energy will post 0.43 earnings per share for the current fiscal year.

VAALCO Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 7.26%. VAALCO Energy’s dividend payout ratio (DPR) is presently 45.45%.

Insiders Place Their Bets

In other news, COO Thor Pruckl sold 10,169 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $3.95, for a total transaction of $40,167.55. Following the sale, the chief operating officer now directly owns 174,992 shares of the company’s stock, valued at $691,218.40. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On VAALCO Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of VAALCO Energy during the fourth quarter valued at $27,000. Parallel Advisors LLC lifted its stake in VAALCO Energy by 776.1% during the 1st quarter. Parallel Advisors LLC now owns 8,305 shares of the energy company’s stock valued at $31,000 after acquiring an additional 7,357 shares during the period. CWM LLC grew its holdings in VAALCO Energy by 259.6% during the first quarter. CWM LLC now owns 9,681 shares of the energy company’s stock worth $36,000 after acquiring an additional 6,989 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of VAALCO Energy during the 4th quarter worth about $38,000. Finally, Simplicity Wealth LLC purchased a new position in VAALCO Energy during the first quarter valued at $40,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

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.