VAALCO Energy (NYSE:EGY) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a report issued on Thursday.

VAALCO Energy Stock Down 2.1 %

EGY stock opened at $4.29 on Thursday. VAALCO Energy has a 1-year low of $4.03 and a 1-year high of $7.51. The stock has a market cap of $445.06 million, a P/E ratio of 5.05 and a beta of 1.18. The stock’s fifty day simple moving average is $5.32 and its two-hundred day simple moving average is $5.95. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The company had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. During the same quarter in the previous year, the company posted $0.07 EPS. Analysts expect that VAALCO Energy will post 0.5 EPS for the current year.

VAALCO Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.25 annualized dividend and a dividend yield of 5.83%. VAALCO Energy’s payout ratio is 29.41%.

Institutional Investors Weigh In On VAALCO Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of VAALCO Energy in the second quarter valued at approximately $60,000. Arkadios Wealth Advisors bought a new stake in VAALCO Energy during the 2nd quarter valued at $64,000. nVerses Capital LLC purchased a new stake in shares of VAALCO Energy during the third quarter worth $60,000. Crestmont Private Wealth LLC bought a new position in shares of VAALCO Energy in the third quarter worth $63,000. Finally, SG Americas Securities LLC bought a new position in shares of VAALCO Energy in the second quarter worth $96,000. 50.32% of the stock is currently owned by institutional investors.

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.