StockNews.com Downgrades VAALCO Energy (NYSE:EGY) to Hold

StockNews.com cut shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

VAALCO Energy Price Performance

EGY stock opened at $5.43 on Tuesday. VAALCO Energy has a one year low of $4.00 and a one year high of $7.51. The company’s fifty day moving average price is $5.76 and its 200-day moving average price is $6.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.19. The company has a market capitalization of $563.31 million, a PE ratio of 6.70 and a beta of 1.19.

VAALCO Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is presently 30.86%.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds have recently modified their holdings of EGY. Gladius Capital Management LP bought a new stake in VAALCO Energy in the second quarter worth $28,000. Innealta Capital LLC bought a new stake in VAALCO Energy in the second quarter worth $60,000. nVerses Capital LLC bought a new stake in VAALCO Energy in the third quarter worth $60,000. Crestmont Private Wealth LLC bought a new stake in VAALCO Energy in the third quarter worth $63,000. Finally, Arkadios Wealth Advisors bought a new stake in VAALCO Energy in the second quarter worth $64,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

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.