Vaalco Energy (NYSE:EGY) Sets New 1-Year High – Here’s Why

Vaalco Energy Inc (NYSE:EGY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.38 and last traded at $5.2450, with a volume of 63434 shares changing hands. The stock had previously closed at $5.18.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Loop Capital set a $7.30 target price on Vaalco Energy in a research report on Friday, January 16th. Finally, Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.30.

Vaalco Energy Price Performance

The company has a 50 day moving average of $3.91 and a two-hundred day moving average of $3.87. The firm has a market cap of $541.63 million, a P/E ratio of 19.22 and a beta of 0.27. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.24.

Vaalco Energy (NYSE:EGY) last released its earnings results on Monday, November 10th. The energy company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $61.01 million during the quarter, compared to the consensus estimate of $74.30 million. Vaalco Energy had a return on equity of 1.02% and a net margin of 7.40%. Sell-side analysts expect that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Friday, November 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.25 annualized dividend and a dividend yield of 4.8%. Vaalco Energy’s dividend payout ratio (DPR) is currently 92.59%.

Hedge Funds Weigh In On Vaalco Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EGY. AQR Capital Management LLC raised its holdings in Vaalco Energy by 228.0% during the 1st quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company’s stock worth $2,799,000 after buying an additional 517,368 shares during the period. NewEdge Advisors LLC increased its position in shares of Vaalco Energy by 14.5% in the first quarter. NewEdge Advisors LLC now owns 54,171 shares of the energy company’s stock worth $204,000 after acquiring an additional 6,840 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Vaalco Energy by 32.9% during the first quarter. Goldman Sachs Group Inc. now owns 737,435 shares of the energy company’s stock valued at $2,773,000 after acquiring an additional 182,489 shares during the period. Caxton Associates LLP purchased a new stake in shares of Vaalco Energy in the 1st quarter valued at approximately $136,000. Finally, Empowered Funds LLC grew its position in Vaalco Energy by 5.6% during the 1st quarter. Empowered Funds LLC now owns 573,580 shares of the energy company’s stock worth $2,157,000 after purchasing an additional 30,295 shares in the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

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.