Vaalco Energy (NYSE:EGY) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Vaalco Energy shares moved above their 200-day moving average, reaching $5.92 before closing at $5.795, up 1.1%. The 200-day average stood at $5.74.
• Analyst sentiment remains cautious: the stock has one Hold and one Sell rating, resulting in an average “Reduce” rating and a $7.30 price target.
• Vaalco paid a quarterly dividend of $0.0625 per share, implying a $0.25 annualized dividend and a 4.3% yield; institutional investors own approximately 50.3% of the company.

Vaalco Energy Inc (NYSE:EGY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.74 and traded as high as $5.92. Vaalco Energy shares last traded at $5.7950, with a volume of 1,371,093 shares changing hands.

Analyst Upgrades and Downgrades

EGY has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vaalco Energy in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Stock Up 1.1%

The company has a market capitalization of $609.58 million, a price-to-earnings ratio of -5.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.44. The business's 50 day moving average is $5.80 and its 200 day moving average is $5.74.

Vaalco Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Friday, August 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, August 21st. Vaalco Energy's dividend payout ratio is presently -23.58%.

Institutional Trading of Vaalco Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGY. State Street Corp grew its stake in Vaalco Energy by 44.2% during the 2nd quarter. State Street Corp now owns 5,173,995 shares of the energy company's stock valued at $26,284,000 after purchasing an additional 1,585,649 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Vaalco Energy in the second quarter worth about $41,000. AXQ Capital LP purchased a new position in shares of Vaalco Energy in the second quarter worth about $269,000. Pinnacle Holdings LLC purchased a new position in shares of Vaalco Energy in the second quarter worth about $1,051,000. Finally, Tieton Capital Management LLC acquired a new stake in shares of Vaalco Energy during the second quarter worth about $9,324,000. 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. The company's portfolio is focused primarily on assets in Africa and other international markets, with activities spanning exploration, field development, production operations and related infrastructure.

VAALCO has historically operated the Etame Marin field offshore Gabon, one of its principal producing assets. The company has also expanded its international portfolio through interests in Egypt and Equatorial Guinea, giving it exposure to both offshore and onshore oil operations.

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