VAALCO Energy (NYSE:EGY) Rating Increased to Buy at upgraded shares of VAALCO Energy (NYSE:EGYGet Rating) from a hold rating to a buy rating in a research note published on Tuesday.

VAALCO Energy Price Performance

Shares of NYSE:EGY opened at $4.82 on Tuesday. The firm has a market capitalization of $522.37 million, a PE ratio of 4.23 and a beta of 1.64. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $4.73 and a two-hundred day moving average price of $4.96. VAALCO Energy has a twelve month low of $3.67 and a twelve month high of $8.77.

VAALCO Energy (NYSE:EGYGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The energy company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.16 by $0.40. VAALCO Energy had a net margin of 21.81% and a return on equity of 60.93%. The firm had revenue of $78.10 million during the quarter, compared to the consensus estimate of $62.58 million. Equities analysts forecast that VAALCO Energy will post 1.69 EPS for the current year.

VAALCO Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Tuesday, November 22nd were paid a dividend of $0.032 per share. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, November 21st. VAALCO Energy’s payout ratio is 11.40%.

Insider Buying and Selling

In other VAALCO Energy 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 directly owns 96,238 shares of the company’s stock, valued at $513,910.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its holdings in shares of VAALCO Energy by 5,581.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,113 shares of the energy company’s stock valued at $35,000 after purchasing an additional 5,023 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of VAALCO Energy during the first quarter valued at approximately $40,000. Ellevest Inc. purchased a new position in shares of VAALCO Energy during the third quarter valued at approximately $29,000. Lazard Asset Management LLC increased its holdings in VAALCO Energy by 1,021.1% during the second quarter. Lazard Asset Management LLC now owns 8,520 shares of the energy company’s stock valued at $59,000 after buying an additional 7,760 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in VAALCO Energy during the second quarter valued at approximately $61,000. 31.61% of the stock is owned by hedge funds and other institutional investors.

About VAALCO Energy

(Get Rating)

VAALCO Energy, Inc engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon and Equatorial Guinea. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation.

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