Vaalco Energy (NYSE:EGY) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Vaalco Energy shares moved above their 200-day moving average, reaching $5.90 before closing at $5.8350 on trading volume of about 1.04 million shares.
• Analyst sentiment remains cautious: the stock carries an average “Reduce” rating, with one Hold and one Sell rating and an average price target of $7.30.
• Vaalco declared a quarterly dividend of $0.0625, equal to $0.25 annually and a 4.3% yield; institutional investors own approximately 50.32% of the company.

Vaalco Energy Inc (NYSE:EGY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.72 and traded as high as $5.90. Vaalco Energy shares last traded at $5.8350, with a volume of 1,039,417 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EGY. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vaalco Energy in a report on Friday, August 7th. Wall Street Zen raised shares of Vaalco Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Stock Down 0.1%

The stock has a fifty day moving average price of $5.75 and a two-hundred day moving average price of $5.72. The company has a market cap of $613.78 million, a price-to-earnings ratio of -5.50 and a beta of 0.14. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st were paid a $0.0625 dividend. The ex-dividend date was Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.3%. Vaalco Energy's payout ratio is -23.58%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Tieton Capital Management LLC acquired a new stake in shares of Vaalco Energy in the second quarter valued at approximately $9,324,000. BlackRock Inc. boosted its stake in shares of Vaalco Energy by 6.7% in the second quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company's stock valued at $45,399,000 after buying an additional 558,168 shares during the period. Sei Investments Co. grew its position 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 buying an additional 677,176 shares in the last quarter. Bank of America Corp DE grew its position in Vaalco Energy by 94.8% during the first quarter. Bank of America Corp DE now owns 404,434 shares of the energy company's stock worth $2,564,000 after buying an additional 196,791 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in Vaalco Energy by 159.4% during the 1st quarter. North Star Investment Management Corp. now owns 275,000 shares of the energy company's stock worth $1,744,000 after acquiring an additional 169,000 shares during the period. Institutional investors and hedge funds own 50.32% of the company's stock.

About Vaalco Energy

VAALCO Energy, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, the company focuses primarily on international upstream oil and gas activities.

VAALCO's operations have included offshore and onshore assets in Africa, with interests in the Etame Marin field offshore Gabon and producing properties in Egypt. The company has also held exploration and development interests in Equatorial Guinea and Canada.

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