Vaalco Energy (NYSE:EGY) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Vaalco Energy shares fell below their 200-day moving average of $5.64, touching $5.58 and last trading at about $5.60; the stock was down 3.4%.
• Analyst ratings have been upgraded from sell to hold, and the stock has an average Hold rating with a $7.30 average price target.
• The company paid a quarterly dividend of $0.0625 per share, equivalent to an annualized dividend of $0.25 and a yield of about 4.5%.

Vaalco Energy Inc (NYSE:EGY - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $5.64 and traded as low as $5.58. Vaalco Energy shares last traded at $5.6040, with a volume of 1,090,645 shares changing hands.

Wall Street Analyst Weigh In

EGY has been the subject of a number of recent analyst reports. Wall Street Zen raised Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, Vaalco Energy currently has an average rating of "Hold" and an average target price of $7.30.

Vaalco Energy Trading Down 3.4%

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.41. The stock's 50-day moving average is $6.04 and its two-hundred day moving average is $5.64. The stock has a market cap of $589.48 million, a P/E ratio of -5.29 and a beta of 0.21.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, August 21st. Vaalco Energy's payout ratio is currently -23.58%.

Institutional Trading of Vaalco Energy

Hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its position in shares of Vaalco Energy by 2.0% in the first quarter. Lazard Asset Management LLC now owns 108,583 shares of the energy company's stock worth $688,000 after buying an additional 2,119 shares in the last quarter. First Trust Advisors LP boosted its stake in Vaalco Energy by 0.9% during the first quarter. First Trust Advisors LP now owns 333,556 shares of the energy company's stock valued at $2,115,000 after buying an additional 3,116 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in Vaalco Energy by 6.3% during the 3rd quarter. Lakewood Asset Management LLC now owns 58,918 shares of the energy company's stock valued at $333,000 after buying an additional 3,495 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Vaalco Energy by 58.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,892 shares of the energy company's stock valued at $107,000 after buying an additional 6,946 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Vaalco Energy during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors 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, natural gas and natural gas liquids. The company focuses primarily on producing assets and development opportunities in Africa and other international markets.

Vaalco has historically operated offshore Gabon, where it developed and produced oil from the Etame Marin field. The company has also expanded its international portfolio through interests and operations in Egypt, Equatorial Guinea and Côte d'Ivoire.

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