VAALCO Energy (NYSE:EGY) Downgraded by StockNews.com

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

VAALCO Energy Stock Performance

EGY stock opened at $6.43 on Friday. The firm has a market cap of $663.51 million, a price-to-earnings ratio of 11.47 and a beta of 1.29. The firm has a 50-day simple moving average of $5.79 and a two-hundred day simple moving average of $4.89. VAALCO Energy has a one year low of $3.51 and a one year high of $7.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results 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 analyst estimates of $130.53 million. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. On average, equities analysts forecast that VAALCO Energy will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently modified their holdings of EGY. Foundry Partners LLC increased its holdings in VAALCO Energy by 65.4% in the 4th quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock worth $3,939,000 after buying an additional 347,005 shares during the period. American Century Companies Inc. lifted its position in shares of VAALCO Energy by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 1,192,299 shares of the energy company’s stock valued at $5,234,000 after buying an additional 138,810 shares in the last quarter. Swiss National Bank lifted its position in shares of VAALCO Energy by 1.3% during the 3rd quarter. Swiss National Bank now owns 237,100 shares of the energy company’s stock valued at $1,041,000 after buying an additional 3,100 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of VAALCO Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,666,535 shares of the energy company’s stock valued at $24,876,000 after buying an additional 26,551 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in shares of VAALCO Energy during the 4th quarter valued at approximately $52,000. 50.32% of the stock is owned by hedge funds and other 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.