VAALCO Energy (NYSE:EGY) Stock Rating Upgraded by StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of VAALCO Energy (NYSE:EGY – Free Report) from a buy rating to a strong-buy rating in a report issued on Tuesday.

VAALCO Energy Stock Performance

VAALCO Energy stock opened at $7.01 on Tuesday. The stock’s 50 day moving average price is $5.36 and its 200 day moving average price is $4.74. The firm has a market capitalization of $723.92 million, a PE ratio of 12.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79. VAALCO Energy has a one year low of $3.51 and a one year high of $7.51.

VAALCO Energy (NYSE:EGY – Get Free Report) last released its quarterly earnings results on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The firm had revenue of $149.15 million for the quarter, compared to analyst estimates of $130.53 million. As a group, sell-side analysts expect that VAALCO Energy will post 1.23 EPS for the current fiscal year.

VAALCO Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $0.063 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from VAALCO Energy’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 3.59%. VAALCO Energy’s payout ratio is currently 44.64%.

Institutional Investors Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently bought and sold shares of EGY. Metropolitan Life Insurance Co NY increased its holdings in VAALCO Energy by 80.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,446 shares of the energy company’s stock worth $29,000 after purchasing an additional 2,872 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of VAALCO Energy in the 3rd quarter valued at approximately $38,000. Bank of America Corp DE bought a new stake in shares of VAALCO Energy in the 1st quarter valued at approximately $40,000. Prelude Capital Management LLC bought a new stake in shares of VAALCO Energy in the 3rd quarter valued at approximately $44,000. Finally, Zacks Investment Management bought a new stake in shares of VAALCO Energy in the 2nd quarter valued at approximately $45,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

About VAALCO Energy

(Get Free Report)

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.

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