VAALCO Energy (NYSE:EGY) Lifted to Strong-Buy at StockNews.com

VAALCO Energy (NYSE:EGY) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

VAALCO Energy Price Performance

Shares of NYSE:EGY opened at $6.73 on Thursday. The company has a market cap of $695.01 million, a price-to-earnings ratio of 12.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.79 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $5.52 and a 200 day simple moving average of $4.79. VAALCO Energy has a one year low of $3.51 and a one year high of $7.51.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.15 by $0.22. The business had revenue of $149.15 million during the quarter, compared to the consensus estimate of $130.53 million. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. Research analysts predict that VAALCO Energy will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VAALCO Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGY. Counterpoint Mutual Funds LLC acquired a new stake in shares of VAALCO Energy during the first quarter worth $136,000. Annex Advisory Services LLC increased its position in shares of VAALCO Energy by 14.8% during the first quarter. Annex Advisory Services LLC now owns 221,595 shares of the energy company’s stock worth $1,545,000 after buying an additional 28,638 shares during the period. Unison Advisors LLC increased its position in shares of VAALCO Energy by 1.4% during the first quarter. Unison Advisors LLC now owns 128,087 shares of the energy company’s stock worth $893,000 after buying an additional 1,734 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of VAALCO Energy during the fourth quarter worth $394,000. Finally, Vanguard Group Inc. increased its position in shares of VAALCO Energy by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 5,899,292 shares of the energy company’s stock worth $26,488,000 after buying an additional 232,757 shares during the period. 50.32% of the stock is currently owned by institutional investors and hedge funds.

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.