Vaalco Energy (NYSE:EGY) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Vaalco Energy from “sell” to “hold,” while Zacks Research also moved its rating to “hold.” However, Weiss Ratings maintained a “sell” rating, leaving the stock with a consensus “Reduce” rating and a $7.30 target price.
• Vaalco shares were trading at $5.78, up 2.6%, with a market capitalization of approximately $607.5 million. The stock has traded between $3.36 and $6.72 over the past year.
• Institutional investors own approximately 50.32% of Vaalco, with BlackRock increasing its stake by 6.7% and several other investment firms establishing or expanding positions during the second quarter.

Vaalco Energy (NYSE:EGY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other research firms have also recently issued reports on EGY. Zacks Research upgraded Vaalco Energy from a "strong sell" rating to a "hold" rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vaalco Energy in a research note on Friday, August 7th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vaalco Energy presently has an average rating of "Reduce" and a consensus target price of $7.30.

Vaalco Energy Trading Up 2.6%

Shares of EGY opened at $5.78 on Friday. Vaalco Energy has a 1-year low of $3.36 and a 1-year high of $6.72. The company has a market capitalization of $607.47 million, a P/E ratio of -5.45 and a beta of 0.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.47. The firm's 50 day simple moving average is $5.35 and its 200 day simple moving average is $5.52.

Institutional Investors Weigh In On Vaalco Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new stake in Vaalco Energy during the 2nd quarter valued at $1,051,000. Tieton Capital Management LLC purchased a new position in shares of Vaalco Energy in the second quarter valued at about $9,324,000. BlackRock Inc. increased its position 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 acquiring an additional 558,168 shares during the period. Persistent Asset Partners Ltd bought a new position in shares of Vaalco Energy during the second quarter valued at about $61,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Vaalco Energy by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,213,760 shares of the energy company's stock valued at $6,166,000 after acquiring an additional 35,077 shares during the last quarter. 50.32% of the stock is currently owned by institutional investors.

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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