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

Vaalco Energy Inc (NYSE:EGY) shares reached a new 52-week high during trading on Monday . The stock traded as high as $5.48 and last traded at $5.3550, with a volume of 492864 shares trading hands. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

Several research firms have issued reports on EGY. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Loop Capital set a $7.30 price objective on Vaalco Energy in a report on Friday, January 16th. Finally, Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.30.

Vaalco Energy Stock Performance

The company has a market capitalization of $553.62 million, a price-to-earnings ratio of 19.67 and a beta of 0.21. The stock’s 50 day moving average price is $4.51 and its 200 day moving average price is $4.06. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24.

Vaalco Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 27th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.25 annualized dividend and a dividend yield of 4.7%. Vaalco Energy’s payout ratio is 92.59%.

Institutional Investors Weigh In On Vaalco Energy

Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in Vaalco Energy by 810.3% during the second quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company’s stock worth $27,000 after buying an additional 6,596 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Vaalco Energy in the 4th quarter valued at about $31,000. CWM LLC increased its stake in shares of 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 during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Vaalco Energy in the 3rd quarter valued at about $41,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Vaalco Energy in the 2nd quarter valued at about $42,000. 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.