Vaalco Energy (NYSE:EGY) Hits New 1-Year High – Here’s Why

Shares of Vaalco Energy Inc (NYSE:EGY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.80 and last traded at $4.8140, with a volume of 230863 shares changing hands. The stock had previously closed at $4.56.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EGY shares. Loop Capital set a $7.30 target price on Vaalco Energy in a report on Friday. Weiss Ratings upgraded shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Finally, Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.30.

Vaalco Energy Stock Performance

The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.24. The stock has a market cap of $497.11 million, a P/E ratio of 17.69 and a beta of 0.22. The firm’s 50-day moving average is $3.66 and its two-hundred day moving average is $3.79.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings results on Monday, November 10th. The energy company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $61.01 million for the quarter, compared to the consensus estimate of $74.30 million. Vaalco Energy had a net margin of 7.40% and a return on equity of 1.02%. As a group, research analysts expect that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Friday, November 21st were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.2%. Vaalco Energy’s dividend payout ratio is currently 92.59%.

Institutional Investors Weigh In On Vaalco Energy

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of Vaalco Energy in the fourth quarter valued at approximately $266,000. SG Americas Securities LLC grew its position in shares of Vaalco Energy by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 51,401 shares of the energy company’s stock valued at $187,000 after purchasing an additional 14,193 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Vaalco Energy in the third quarter worth about $44,000. Coldstream Capital Management Inc. bought a new stake in Vaalco Energy during the 3rd quarter valued at approximately $138,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Vaalco Energy in the 3rd quarter valued at approximately $135,000. Institutional investors own 50.32% of the company’s stock.

About Vaalco Energy

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.