VAALCO Energy (NYSE:EGY) Rating Lowered to Hold at StockNews.com

VAALCO Energy (NYSE:EGY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $5.29 on Tuesday. The firm has a 50-day moving average of $5.75 and a 200-day moving average of $6.17. The company has a market cap of $548.78 million, a P/E ratio of 6.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.19 and a quick ratio of 1.15. VAALCO Energy has a one year low of $4.01 and a one year high of $7.51.

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 15.79%. During the same quarter in the previous year, the company posted $0.07 EPS. Equities research analysts forecast that VAALCO Energy will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On VAALCO Energy

Several institutional investors have recently added to or reduced their stakes in EGY. Dimensional Fund Advisors LP boosted its position in VAALCO Energy by 7,129.3% during the second quarter. Dimensional Fund Advisors LP now owns 895,210 shares of the energy company’s stock worth $5,613,000 after purchasing an additional 882,827 shares during the period. Foundry Partners LLC boosted its position in VAALCO Energy by 156.8% during the third quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock worth $6,891,000 after purchasing an additional 733,084 shares during the period. American Century Companies Inc. boosted its position in VAALCO Energy by 33.2% during the second quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after purchasing an additional 701,568 shares during the period. Charles Schwab Investment Management Inc. boosted its position in VAALCO Energy by 66.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock worth $5,527,000 after purchasing an additional 386,071 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in VAALCO Energy during the third quarter worth about $1,676,000. Institutional investors own 50.32% of the company’s stock.

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.