Vaalco Energy (NYSE:EGY) Shares Gap Down – Time to Sell?

Vaalco Energy Inc (NYSE:EGY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.34, but opened at $6.11. Vaalco Energy shares last traded at $6.0350, with a volume of 302,183 shares trading hands.

Analyst Upgrades and Downgrades

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

Vaalco Energy Trading Down 3.9%

The business’s 50 day simple moving average is $5.31 and its 200 day simple moving average is $4.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.68. The company has a market capitalization of $635.45 million, a price-to-earnings ratio of -15.24 and a beta of 0.21.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings results on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million. Vaalco Energy had a negative return on equity of 0.81% and a negative net margin of 11.52%. Research analysts anticipate that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, February 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.25 annualized dividend and a dividend yield of 4.1%. Vaalco Energy’s dividend payout ratio (DPR) is currently -62.50%.

Institutional Investors Weigh In On Vaalco Energy

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Vaalco Energy by 228.0% during the 1st quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company’s stock worth $2,799,000 after buying an additional 517,368 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Vaalco Energy by 14.5% during the first quarter. NewEdge Advisors LLC now owns 54,171 shares of the energy company’s stock worth $204,000 after acquiring an additional 6,840 shares during the period. Goldman Sachs Group Inc. raised its position in Vaalco Energy by 32.9% in the first quarter. Goldman Sachs Group Inc. now owns 737,435 shares of the energy company’s stock worth $2,773,000 after acquiring an additional 182,489 shares in the last quarter. Caxton Associates LLP acquired a new stake in Vaalco Energy in the first quarter valued at $136,000. Finally, Empowered Funds LLC lifted its holdings in Vaalco Energy by 5.6% in the first quarter. Empowered Funds LLC now owns 573,580 shares of the energy company’s stock valued at $2,157,000 after acquiring an additional 30,295 shares during the period. Hedge funds and other institutional investors 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.