Vaalco Energy (NYSE:EGY) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Vaalco Energy Inc (NYSE:EGY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.35 and traded as high as $5.35. Vaalco Energy shares last traded at $5.2750, with a volume of 962,195 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Vaalco Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded Vaalco Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.30.

Vaalco Energy Price Performance

The business’s 50-day moving average price is $5.43 and its 200 day moving average price is $5.36. The company has a market capitalization of $587.51 million, a P/E ratio of -4.11 and a beta of 0.09. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.60.

Vaalco Energy (NYSE:EGY) last posted its earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%.The firm had revenue of $62.60 million for the quarter, compared to the consensus estimate of $78.20 million. Analysts anticipate that Vaalco Energy Inc will post 0.11 EPS for the current fiscal year.

Vaalco Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 22nd were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, May 22nd. Vaalco Energy’s dividend payout ratio (DPR) is -18.25%.

Hedge Funds Weigh In On Vaalco Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGY. Lazard Asset Management LLC lifted its holdings in shares of Vaalco Energy by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 108,583 shares of the energy company’s stock worth $688,000 after acquiring an additional 2,119 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Vaalco Energy by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock valued at $144,000 after acquiring an additional 2,885 shares during the last quarter. Intech Investment Management LLC raised its position in Vaalco Energy by 5.0% during the third quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock valued at $253,000 after purchasing an additional 2,977 shares in the last quarter. First Trust Advisors LP raised its position in Vaalco Energy by 0.9% during the first quarter. First Trust Advisors LP now owns 333,556 shares of the energy company’s stock valued at $2,115,000 after purchasing an additional 3,116 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its stake in Vaalco Energy by 11.1% during the fourth quarter. GF Fund Management CO. LTD. now owns 31,300 shares of the energy company’s stock worth $114,000 after purchasing an additional 3,136 shares during the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

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.