Vaalco Energy (NYSE:EGY) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Vaalco Energy shares rose 2.9%, trading as high as $6.00 and closing near $5.94, above the 200-day moving average of $5.60.
• Analyst sentiment remains cautious: ratings include “Hold” and “Sell,” producing an average “Reduce” rating, although the average price target of $7.30 is above the current share price.
• Vaalco declared a quarterly dividend of $0.0625, equivalent to $0.25 annually and a 4.2% yield; institutional investors own approximately 50.3% of the company.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.60 and traded as high as $6.00. Vaalco Energy shares last traded at $5.94, with a volume of 1,059,589 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Vaalco Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Vaalco Energy in a research note on Friday, August 7th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Stock Up 2.9%

The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $624.83 million, a PE ratio of -5.60 and a beta of 0.10. The stock's fifty day simple moving average is $5.43 and its 200-day simple moving average is $5.60.

Vaalco Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st will be paid a $0.0625 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.2%. Vaalco Energy's dividend payout ratio (DPR) is -23.58%.

Hedge Funds Weigh In On Vaalco Energy

Several institutional investors have recently modified their holdings of EGY. Sei Investments Co. lifted its holdings in Vaalco Energy by 125.9% during the first quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company's stock worth $7,703,000 after acquiring an additional 677,176 shares during the period. Tieton Capital Management LLC bought a new position in Vaalco Energy in the 2nd quarter valued at $9,324,000. North Star Investment Management Corp. grew its stake in Vaalco Energy by 159.4% in the 1st quarter. North Star Investment Management Corp. now owns 275,000 shares of the energy company's stock valued at $1,744,000 after purchasing an additional 169,000 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Vaalco Energy during the 2nd quarter valued at $1,051,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Vaalco Energy by 10.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,028,909 shares of the energy company's stock valued at $25,545,000 after purchasing an additional 389,058 shares during the last quarter. 50.32% of the stock is 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.

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