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

VAALCO Energy (NYSE:EGY – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.64 on Friday. The firm has a market cap of $502.88 million, a price-to-earnings ratio of 4.07 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.86. VAALCO Energy has a 52 week low of $3.57 and a 52 week high of $8.77. The firm’s 50-day simple moving average is $4.79 and its two-hundred day simple moving average is $5.07.

VAALCO Energy (NYSE:EGY – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The energy company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.16 by $0.40. The business had revenue of $78.10 million for the quarter, compared to analyst estimates of $62.58 million. VAALCO Energy had a net margin of 21.81% and a return on equity of 60.93%. As a group, equities analysts forecast that VAALCO Energy will post 1.69 earnings per share for the current year.

Insider Transactions at VAALCO Energy

In other news, COO Thor Pruckl sold 37,337 shares of VAALCO Energy stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $5.34, for a total value of $199,379.58. Following the completion of the transaction, the chief operating officer now owns 96,238 shares in the company, valued at $513,910.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds have recently bought and sold shares of EGY. State Street Corp grew its stake in VAALCO Energy by 2,032.4% during the second quarter. State Street Corp now owns 4,121,516 shares of the energy company’s stock valued at $28,603,000 after acquiring an additional 3,928,232 shares in the last quarter. Two Sigma Investments LP bought a new stake in VAALCO Energy during the third quarter valued at approximately $2,837,000. Balyasny Asset Management LLC bought a new stake in VAALCO Energy during the third quarter valued at approximately $2,035,000. Northern Trust Corp lifted its position in VAALCO Energy by 281.3% during the second quarter. Northern Trust Corp now owns 534,859 shares of the energy company’s stock valued at $3,712,000 after purchasing an additional 394,570 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in VAALCO Energy during the second quarter valued at approximately $2,372,000. Hedge funds and other institutional investors own 31.61% of the company’s stock.

About VAALCO Energy

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VAALCO Energy, Inc, an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas. The company holds Etame production sharing contract related to the Etame Marin block located offshore in the Republic of Gabon in West Africa. It also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa.