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

StockNews.com downgraded shares of VAALCO Energy (NYSE:EGY) from a strong-buy rating to a buy rating in a report released on Friday morning.

VAALCO Energy Stock Performance

Shares of NYSE EGY opened at $6.39 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $4.91. The company has a market cap of $659.38 million, a PE ratio of 11.40 and a beta of 1.29. VAALCO Energy has a 12-month low of $3.51 and a 12-month high of $7.51.

VAALCO Energy (NYSE:EGY) last announced its earnings results on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The firm had revenue of $149.15 million for the quarter, compared to analysts’ expectations of $130.53 million. On average, equities research analysts forecast that VAALCO Energy will post 0.2 EPS for the current year.

VAALCO Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.063 per share. This is a boost from VAALCO Energy’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.25 annualized dividend and a yield of 3.95%. VAALCO Energy’s payout ratio is presently 44.64%.

Institutional Investors Weigh In On VAALCO Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in VAALCO Energy during the third quarter worth approximately $38,000. Bleakley Financial Group LLC acquired a new stake in shares of VAALCO Energy during the 4th quarter valued at $52,000. Simplicity Solutions LLC acquired a new stake in shares of VAALCO Energy during the 4th quarter valued at $52,000. Navellier & Associates Inc. acquired a new stake in shares of VAALCO Energy during the 3rd quarter valued at $67,000. Finally, Principal Financial Group Inc. lifted its position in shares of VAALCO Energy by 34.7% during the 3rd quarter. Principal Financial Group Inc. now owns 15,609 shares of the energy company’s stock valued at $69,000 after acquiring an additional 4,020 shares during the last quarter. 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.