Vaalco Energy (NYSE:EGY) Reaches New 12-Month High – Still a Buy?

Vaalco Energy Inc (NYSE:EGY)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.47 and last traded at $6.3140, with a volume of 351961 shares. The stock had previously closed at $6.26.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a report on Friday, January 16th. Finally, Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Stock Up 2.6%

The firm has a market cap of $669.86 million, a P/E ratio of -16.06 and a beta of 0.21. The business’s fifty day moving average price is $5.23 and its two-hundred day moving average price is $4.29. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 0.26.

Vaalco Energy (NYSE:EGY) last issued its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $91.04 million during the quarter, compared to the consensus estimate of $76.30 million. Vaalco Energy had a negative return on equity of 0.81% and a negative net margin of 11.52%. As a group, equities research analysts anticipate that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 27th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.9%. Vaalco Energy’s payout ratio is currently -62.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in Vaalco Energy by 810.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company’s stock worth $27,000 after purchasing an additional 6,596 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Vaalco Energy during the fourth quarter valued at approximately $31,000. CWM LLC grew its holdings in Vaalco Energy by 91.1% during the third quarter. CWM LLC now owns 8,469 shares of the energy company’s stock valued at $34,000 after purchasing an additional 4,038 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Vaalco Energy in the third quarter valued at approximately $41,000. Finally, Corient Private Wealth LLC bought a new position in shares of Vaalco Energy in the second quarter valued at approximately $42,000. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.