Vaalco Energy Inc (NYSE:EGY – Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.23, but opened at $5.45. Vaalco Energy shares last traded at $5.4330, with a volume of 90,414 shares.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Wall Street Zen downgraded Vaalco Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $7.30.
Check Out Our Latest Stock Report on EGY
Vaalco Energy Price Performance
Vaalco Energy (NYSE:EGY – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.44). The company had revenue of $62.60 million during the quarter, compared to the consensus estimate of $78.20 million. Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%. On average, sell-side analysts forecast that Vaalco Energy Inc will post 0.11 EPS for the current fiscal year.
Vaalco Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.25 annualized dividend and a dividend yield of 4.6%. Vaalco Energy’s payout ratio is -18.25%.
Institutional Trading of Vaalco Energy
A number of large investors have recently modified their holdings of EGY. Kestra Advisory Services LLC acquired a new position in Vaalco Energy during the 4th quarter valued at about $31,000. CIBC Bancorp USA Inc. bought a new stake in shares of Vaalco Energy during the third quarter valued at approximately $44,000. Qube Research & Technologies Ltd bought a new stake in shares of Vaalco Energy during the third quarter valued at approximately $47,000. StoneX Group Inc. acquired a new position in shares of Vaalco Energy during the fourth quarter worth approximately $48,000. Finally, Quantbot Technologies LP bought a new position in Vaalco Energy in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds 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.
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