Vaalco Energy (NYSE:EGY) Shares Gap Down – What’s Next?

Vaalco Energy Inc (NYSE:EGY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.25, but opened at $5.90. Vaalco Energy shares last traded at $6.0350, with a volume of 606,932 shares trading hands.

Wall Street Analysts Forecast Growth

EGY has been the topic of a number of research reports. Weiss Ratings upgraded shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Loop Capital set a $7.30 target price on Vaalco Energy in a research report on Friday, January 16th. Finally, Zacks Research lowered Vaalco Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Trading Up 0.2%

The firm’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $4.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.68. The firm has a market capitalization of $633.38 million, a price-to-earnings ratio of -15.19 and a beta of 0.21.

Vaalco Energy (NYSE:EGY) last issued its earnings results on Thursday, March 12th. The energy company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The business had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million. Equities analysts expect that Vaalco Energy Inc will post 0.43 earnings per share for the current year.

Vaalco Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 27th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.25 annualized dividend and a yield of 4.1%. Vaalco Energy’s dividend payout ratio (DPR) is -62.50%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EGY. PNC Financial Services Group Inc. boosted its stake in shares of Vaalco Energy by 810.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company’s stock valued at $27,000 after purchasing an additional 6,596 shares in the last quarter. CWM LLC increased its position in Vaalco Energy by 91.1% during the 3rd quarter. CWM LLC now owns 8,469 shares of the energy company’s stock worth $34,000 after purchasing an additional 4,038 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Vaalco Energy in the 4th quarter valued at approximately $31,000. Arkadios Wealth Advisors bought a new position in Vaalco Energy in the 3rd quarter valued at approximately $41,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in Vaalco Energy in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 50.32% of the company’s stock.

About Vaalco Energy

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.