Vaalco Energy (NYSE:EGY) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Vaalco Energy shares rose above their 200-day moving average, reaching $6.16 and last trading near $6.08, compared with a 200-day average of $5.65.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating from one Hold and one Sell rating, with a $7.30 price target.
• The company declared a quarterly dividend of $0.0625 per share, equivalent to a 4.1% annualized yield, while institutional investors and hedge funds own 50.32% of the stock.

Shares of Vaalco Energy Inc (NYSE:EGY - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.65 and traded as high as $6.16. Vaalco Energy shares last traded at $6.0750, with a volume of 975,036 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EGY shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Vaalco Energy in a research note on Friday, August 7th. Wall Street Zen raised Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Vaalco Energy has a consensus rating of "Reduce" and a consensus price target of $7.30.

Vaalco Energy Trading Up 1.3%

The firm has a market capitalization of $639.03 million, a price-to-earnings ratio of -5.73 and a beta of 0.14. The firm's 50 day moving average is $5.55 and its 200 day moving average is $5.65. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.60.

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, August 21st will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 4.1%. Vaalco Energy's dividend payout ratio (DPR) is currently -23.58%.

Hedge Funds Weigh In On Vaalco Energy

A number of hedge funds have recently modified their holdings of the stock. Tieton Capital Management LLC purchased a new stake in shares of Vaalco Energy during the second quarter valued at $9,324,000. UBS Group AG increased its stake in Vaalco Energy by 154.9% in the 4th quarter. UBS Group AG now owns 1,326,729 shares of the energy company's stock worth $4,829,000 after purchasing an additional 806,283 shares in the last quarter. Sei Investments Co. increased its stake in Vaalco Energy by 125.9% in the 1st quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company's stock worth $7,703,000 after purchasing an additional 677,176 shares in the last quarter. BlackRock Inc. increased its stake in Vaalco Energy by 6.7% in the 2nd quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company's stock worth $45,399,000 after purchasing an additional 558,168 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Vaalco Energy by 228.0% during the 1st quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company's stock worth $2,799,000 after buying an additional 517,368 shares during the period. 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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