Vaalco Energy (NYSE:EGY) Reaches New 1-Year High – Here’s What Happened

Vaalco Energy Inc (NYSE:EGY) shares reached a new 52-week high on Thursday . The stock traded as high as $5.00 and last traded at $5.0230, with a volume of 8584 shares traded. The stock had previously closed at $4.89.

Analyst Ratings Changes

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

Vaalco Energy Trading Up 5.8%

The firm has a market capitalization of $539.55 million, a P/E ratio of 19.17 and a beta of 0.22. The business’s 50 day moving average is $3.78 and its two-hundred day moving average is $3.83. 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 the consensus estimate of ($0.04) by ($0.06). The company had revenue of $61.01 million for the quarter, compared to analyst estimates of $74.30 million. Vaalco Energy had a net margin of 7.40% and a return on equity of 1.02%. Analysts expect that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Friday, November 21st were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, November 21st. Vaalco Energy’s dividend payout ratio is 92.59%.

Hedge Funds Weigh In On Vaalco Energy

Several hedge funds have recently modified their holdings of EGY. Signaturefd LLC lifted its holdings in Vaalco Energy by 545.7% in the 2nd quarter. Signaturefd LLC now owns 7,380 shares of the energy company’s stock valued at $27,000 after acquiring an additional 6,237 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 worth $27,000 after purchasing an additional 6,596 shares in the last quarter. CWM LLC lifted its stake in Vaalco Energy by 91.1% during the third quarter. CWM LLC now owns 8,469 shares of the energy company’s stock valued at $34,000 after purchasing an additional 4,038 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Vaalco Energy during the third quarter worth approximately $41,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in Vaalco Energy in the second quarter worth approximately $42,000. 50.32% of the stock is currently owned by institutional investors and hedge funds.

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.