VAALCO Energy (NYSE:EGY) Trading Down 2.7%

VAALCO Energy, Inc. (NYSE:EGY - Get Free Report) shares were down 2.7% during mid-day trading on Tuesday . The stock traded as low as $6.45 and last traded at $6.47. Approximately 651,013 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,055,024 shares. The stock had previously closed at $6.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised VAALCO Energy from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 18th.

VAALCO Energy Trading Down 3.3 %

The firm has a 50-day moving average price of $5.71 and a 200-day moving average price of $4.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79. The stock has a market cap of $664.03 million, a PE ratio of 11.48 and a beta of 1.29.

VAALCO Energy (NYSE:EGY - Get Free Report) last issued its earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The business had revenue of $149.15 million during the quarter, compared to analyst estimates of $130.53 million. As a group, equities analysts anticipate that VAALCO Energy, Inc. will post 1.23 EPS for the current fiscal year.

VAALCO Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a $0.063 dividend. This is a positive change from VAALCO Energy's previous quarterly dividend of $0.06. The ex-dividend date was Thursday, March 7th. This represents a $0.25 dividend on an annualized basis and a yield of 3.92%. VAALCO Energy's payout ratio is 44.64%.

Hedge Funds Weigh In On VAALCO Energy

A number of hedge funds have recently bought and sold shares of EGY. National Bank of Canada FI raised its position in VAALCO Energy by 491.7% in the 3rd quarter. National Bank of Canada FI now owns 59,169 shares of the energy company's stock worth $245,000 after buying an additional 49,169 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of VAALCO Energy during the 3rd quarter valued at about $196,000. Redwood Wealth Management Group LLC increased its position in shares of VAALCO Energy by 11.3% during the 3rd quarter. Redwood Wealth Management Group LLC now owns 65,750 shares of the energy company's stock valued at $289,000 after purchasing an additional 6,682 shares during the last quarter. Yorktown Management & Research Co Inc increased its position in shares of VAALCO Energy by 56.9% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 80,000 shares of the energy company's stock valued at $351,000 after purchasing an additional 29,000 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of VAALCO Energy by 3.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,196,895 shares of the energy company's stock valued at $9,644,000 after purchasing an additional 79,755 shares during the last quarter. Hedge funds and other institutional investors own 50.32% of the company's stock.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.