Vaalco Energy (NYSE:EGY) Trading 5.1% Higher – Still a Buy?

Vaalco Energy Inc (NYSE:EGY) rose 5.1% during mid-day trading on Thursday . The stock traded as high as $5.90 and last traded at $5.9150. Approximately 345,994 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,356,351 shares. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

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

Vaalco Energy Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 0.69. The company has a market capitalization of $627.12 million, a PE ratio of -15.04 and a beta of 0.21. The company’s 50-day simple moving average is $4.93 and its 200-day simple moving average is $4.18.

Vaalco Energy (NYSE:EGY) last announced its earnings results on Thursday, March 12th. The energy company reported ($0.02) EPS 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 analysts’ expectations of $76.30 million. As a group, sell-side analysts anticipate that Vaalco Energy Inc will post 0.43 earnings per share for the current year.

Vaalco Energy Dividend Announcement

The business also recently disclosed 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. This represents a $0.25 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 27th. Vaalco Energy’s dividend payout ratio (DPR) is presently -62.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Vaalco Energy by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock worth $144,000 after purchasing an additional 2,885 shares during the last quarter. Intech Investment Management LLC increased its stake in Vaalco Energy by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock valued at $253,000 after buying an additional 2,977 shares during the period. GF Fund Management CO. LTD. increased its stake in Vaalco Energy by 11.1% in the 4th quarter. GF Fund Management CO. LTD. now owns 31,300 shares of the energy company’s stock valued at $114,000 after buying an additional 3,136 shares during the period. Lakewood Asset Management LLC raised its position in Vaalco Energy by 7.1% during the 4th quarter. Lakewood Asset Management LLC now owns 51,178 shares of the energy company’s stock worth $186,000 after buying an additional 3,389 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its position in Vaalco Energy by 31.1% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 15,641 shares of the energy company’s stock worth $56,000 after buying an additional 3,712 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

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.