Vaalco Energy (NYSE:EGY) Trading Down 4.4% - What's Next?

Key Points

• Vaalco Energy shares fell 4.4% to approximately $6.24 on Wednesday, with trading volume down 73% from the average. The stock’s consensus rating is “Reduce,” with a $7.30 price target.
• The company announced a quarterly dividend of $0.0625 per share, equivalent to $0.25 annually and a 4.0% yield. The dividend is payable September 22 to shareholders of record on August 21.
• Institutional investors own 50.32% of Vaalco’s shares, with firms including BlackRock, Dimensional Fund Advisors, UBS, and Tieton Capital recently increasing or initiating positions.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) shares fell 4.4% during trading on Wednesday . The company traded as low as $6.24 and last traded at $6.2350. Approximately 373,019 shares traded hands during trading, a decline of 73% from the average daily volume of 1,405,903 shares. The stock had previously closed at $6.52.

Analyst Ratings Changes

EGY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vaalco Energy in a research report on Friday, August 7th. One 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.com, the stock presently has an average rating of "Reduce" and a consensus price target of $7.30.

Vaalco Energy Trading Down 4.6%

The firm has a 50-day simple moving average of $5.67 and a 200-day simple moving average of $5.69. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.60. The stock has a market cap of $654.19 million, a PE ratio of -5.86 and a beta of 0.14.

Vaalco Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 21st. Vaalco Energy's payout ratio is presently -23.58%.

Institutional Trading of Vaalco Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of EGY. Tieton Capital Management LLC purchased a new stake in Vaalco Energy in the second quarter worth $9,324,000. UBS Group AG raised its position in shares of 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 acquiring an additional 806,283 shares in the last quarter. Sei Investments Co. lifted 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 valued at $7,703,000 after buying an additional 677,176 shares during the period. BlackRock Inc. grew its holdings in Vaalco Energy by 6.7% in the second 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Vaalco Energy by 10.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,028,909 shares of the energy company's stock worth $25,545,000 after purchasing an additional 389,058 shares in the last quarter. 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 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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