Vaalco Energy (NYSE:EGY) Shares Gap Up – Here’s Why

Vaalco Energy Inc (NYSE:EGY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.80, but opened at $6.00. Vaalco Energy shares last traded at $6.0150, with a volume of 275,222 shares.

Wall Street Analysts Forecast Growth

EGY has been the subject of a number of research reports. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research report on Friday, January 16th. Finally, Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $7.30.

Vaalco Energy Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.68 and a current ratio of 0.69. The business has a 50 day simple moving average of $5.54 and a 200-day simple moving average of $4.46. The firm has a market cap of $601.58 million, a price-to-earnings ratio of -14.42 and a beta of 0.19.

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

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, February 27th were issued a dividend of $0.0625 per share. The ex-dividend date was Friday, February 27th. This represents a $0.25 annualized dividend and a yield of 4.3%. Vaalco Energy’s dividend payout ratio is -62.50%.

Institutional Investors Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers LLC bought a new stake in Vaalco Energy during the fourth quarter worth $170,000. Wellington Management Group LLP bought a new stake in Vaalco Energy during the fourth quarter worth $141,000. Oxford Asset Management LLP bought a new stake in Vaalco Energy during the fourth quarter worth $84,000. Price T Rowe Associates Inc. MD grew its holdings in Vaalco Energy by 40.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 147,666 shares of the energy company’s stock worth $538,000 after buying an additional 42,177 shares in the last quarter. Finally, Mangrove Partners IM LLC bought a new stake in Vaalco Energy during the fourth quarter worth $127,000. Institutional investors own 50.32% of the company’s stock.

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.