VAALCO Energy (NYSE:EGY - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Thursday.
VAALCO Energy Price Performance
EGY traded down $0.09 during trading on Thursday, hitting $6.64. 1,109,855 shares of the company traded hands, compared to its average volume of 1,069,569. The company has a market cap of $685.71 million, a PE ratio of 12.02 and a beta of 1.29. The stock's 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $4.79. VAALCO Energy has a 1 year low of $3.51 and a 1 year high of $7.51. The company has a current ratio of 1.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.16.
VAALCO Energy (NYSE:EGY - Get Free Report) last posted its earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The company had revenue of $149.15 million during the quarter, compared to analysts' expectations of $130.53 million. As a group, sell-side analysts anticipate that VAALCO Energy will post 1.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On VAALCO Energy
Large investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY boosted its stake in shares of VAALCO Energy by 80.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,446 shares of the energy company's stock worth $29,000 after purchasing an additional 2,872 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of VAALCO Energy during the 3rd quarter worth about $38,000. Bank of America Corp DE purchased a new position in shares of VAALCO Energy during the 1st quarter worth about $40,000. Prelude Capital Management LLC purchased a new position in shares of VAALCO Energy during the 3rd quarter worth about $44,000. Finally, Zacks Investment Management purchased a new position in shares of VAALCO Energy during the 2nd quarter worth about $45,000. 50.32% of the stock is owned by hedge funds and other institutional investors.
VAALCO Energy Company Profile
(
Get Free Report)
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.
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