Vaalco Energy (NYSE:EGY) Shares Gap Up – Time to Buy?

Shares of Vaalco Energy Inc (NYSE:EGY) gapped up before the market opened on Tuesday . The stock had previously closed at $5.35, but opened at $5.58. Vaalco Energy shares last traded at $6.0430, with a volume of 769,516 shares changing hands.

Analysts Set New Price Targets

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

Vaalco Energy Stock Up 11.5%

The business has a 50-day simple moving average of $5.58 and a two-hundred day simple moving average of $4.50. The company has a market cap of $621.91 million, a price-to-earnings ratio of -14.96 and a beta of 0.19. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Vaalco Energy (NYSE:EGY) last posted its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) 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 analysts forecast that Vaalco Energy Inc will post 0.13 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, February 27th were paid a $0.0625 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.2%. Vaalco Energy’s payout ratio is presently -62.50%.

Hedge Funds Weigh In On Vaalco Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake 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 acquiring an additional 4,038 shares during the period. Kestra Advisory Services LLC bought a new position in Vaalco Energy during the fourth quarter valued at about $31,000. Arkadios Wealth Advisors bought a new position in Vaalco Energy during the third quarter valued at about $41,000. CIBC Bancorp USA Inc. bought a new position in Vaalco Energy during the third quarter valued at about $44,000. Finally, Caprock Group LLC bought a new position in Vaalco Energy during the third quarter valued at about $44,000. 50.32% of the stock is currently owned by institutional investors.

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.