Vaalco Energy Inc (NYSE:EGY – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $5.55, but opened at $5.36. Vaalco Energy shares last traded at $5.36, with a volume of 260,685 shares traded.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Weiss Ratings lowered Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Vaalco Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.30.
View Our Latest Stock Report on EGY
Vaalco Energy Stock Down 4.2%
Vaalco Energy (NYSE:EGY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%.The company had revenue of $62.60 million during the quarter, compared to analyst estimates of $78.20 million. Sell-side analysts expect that Vaalco Energy Inc will post 0.11 earnings per share for the current year.
Vaalco Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 22nd were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vaalco Energy’s dividend payout ratio is presently -18.25%.
Institutional Investors Weigh In On Vaalco Energy
Several institutional investors have recently made changes to their positions in EGY. Kestra Advisory Services LLC bought a new stake in shares of Vaalco Energy in the 4th quarter valued at approximately $31,000. Pasadena Private Wealth LLC acquired a new stake in Vaalco Energy in the first quarter valued at approximately $63,000. CIBC Bancorp USA Inc. acquired a new stake in Vaalco Energy in the third quarter valued at approximately $44,000. Qube Research & Technologies Ltd bought a new stake in Vaalco Energy in the third quarter worth approximately $47,000. Finally, StoneX Group Inc. bought a new stake in Vaalco Energy in the fourth quarter worth approximately $48,000. 50.32% of the stock is currently owned by institutional investors and hedge funds.
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.
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