Vaalco Energy (NYSE:EGY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Vaalco Energy (NYSE:EGY) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other analysts also recently issued reports about the company. Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vaalco Energy in a research note on Friday, August 7th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $7.30.

Vaalco Energy Stock Up 1.4%

Vaalco Energy stock opened at $5.86 on Friday. The firm has a 50 day moving average price of $5.36 and a 200-day moving average price of $5.54. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.60. Vaalco Energy has a twelve month low of $3.36 and a twelve month high of $6.72. The company has a market capitalization of $616.41 million, a P/E ratio of -5.53 and a beta of 0.10.

Vaalco Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, August 21st will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.3%. Vaalco Energy’s dividend payout ratio (DPR) is -23.58%.

Hedge Funds Weigh In On Vaalco Energy

Several hedge funds have recently made changes to their positions in EGY. Pinnacle Holdings LLC bought a new position in Vaalco Energy in the 2nd quarter worth about $1,051,000. Tieton Capital Management LLC bought a new stake in shares of Vaalco Energy during the second quarter valued at about $9,324,000. BlackRock Inc. lifted its holdings in shares of Vaalco Energy by 6.7% in the second quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company’s stock worth $45,399,000 after buying an additional 558,168 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Vaalco Energy in the second quarter worth about $61,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Vaalco Energy by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,213,760 shares of the energy company’s stock valued at $6,166,000 after acquiring an additional 35,077 shares during the period. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

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.