VAALCO Energy (NYSE:EGY) Stock Price Down 3.6%

VAALCO Energy, Inc. (NYSE:EGY)’s stock price was down 3.6% during trading on Tuesday . The stock traded as low as $6.66 and last traded at $6.70. Approximately 1,565,681 shares changed hands during trading, an increase of 58% from the average daily volume of 990,810 shares. The stock had previously closed at $6.95.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 23rd.

VAALCO Energy Trading Up 1.3 %

The firm has a 50-day simple moving average of $4.73 and a 200-day simple moving average of $4.52. The stock has a market cap of $718.76 million, a PE ratio of 12.43 and a beta of 1.23. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16.

VAALCO Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be issued a $0.063 dividend. This is a boost from VAALCO Energy’s previous quarterly dividend of $0.06. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, March 7th. VAALCO Energy’s dividend payout ratio is presently 44.64%.

Institutional Trading of VAALCO Energy

Institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY raised its holdings in shares of VAALCO Energy by 80.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,446 shares of the energy company’s stock valued at $29,000 after acquiring an additional 2,872 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in VAALCO Energy during the 3rd quarter valued at $38,000. Bank of America Corp DE bought a new position in shares of VAALCO Energy during the 1st quarter valued at $40,000. Prelude Capital Management LLC purchased a new position in shares of VAALCO Energy in the 3rd quarter worth $44,000. Finally, Zacks Investment Management bought a new stake in shares of VAALCO Energy in the second quarter worth $45,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

VAALCO Energy Company Profile

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.