Vaalco Energy (NYSE:EGY) Hits New 1-Year High – Should You Buy?

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

Analyst Ratings Changes

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

Vaalco Energy Stock Performance

The company’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $4.03. The stock has a market capitalization of $542.67 million, a price-to-earnings ratio of 19.35 and a beta of 0.21. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 27th will be issued a $0.0625 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.25 annualized dividend and a yield of 4.8%. Vaalco Energy’s dividend payout ratio is presently 92.59%.

Institutional Investors Weigh In On Vaalco Energy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Vaalco Energy by 1.2% during the third quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after acquiring an additional 81,203 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Vaalco Energy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock valued at $19,058,000 after purchasing an additional 316,570 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Vaalco Energy by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company’s stock valued at $15,001,000 after purchasing an additional 62,474 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Vaalco Energy by 0.9% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 3,228,660 shares of the energy company’s stock valued at $11,752,000 after purchasing an additional 28,645 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Vaalco Energy by 5.8% in the second quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company’s stock worth $10,629,000 after purchasing an additional 162,023 shares in the last quarter. 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.