Vaalco Energy (NYSE:EGY) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Vaalco Energy from a "strong sell" rating to a "hold" rating, reflecting a more positive outlook on the stock.
• Meanwhile, Wall Street Zen lowered its rating on the company from "buy" to "hold," indicating mixed sentiment among analysts.
• Vaalco Energy reported earnings of $0.02 per share, meeting analyst expectations, with revenues surpassing estimates at $96.89 million for the quarter.

Zacks Research upgraded shares of Vaalco Energy (NYSE:EGY - Free Report) from a strong sell rating to a hold rating in a research note published on Monday, September 1st,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Vaalco Energy from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Vaalco Energy Stock Down 0.9%

Shares of NYSE EGY traded down $0.04 during trading hours on Monday, hitting $3.80. 260,905 shares of the stock were exchanged, compared to its average volume of 910,956. The company has a quick ratio of 1.38, a current ratio of 1.39 and a debt-to-equity ratio of 0.24. The company has a market cap of $395.67 million, a PE ratio of 10.54 and a beta of 0.97. The firm has a fifty day moving average price of $3.77 and a 200-day moving average price of $3.67. Vaalco Energy has a 12 month low of $3.00 and a 12 month high of $6.45.

Vaalco Energy (NYSE:EGY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $96.89 million during the quarter, compared to analyst estimates of $89.40 million. Vaalco Energy had a net margin of 8.26% and a return on equity of 4.64%. On average, sell-side analysts expect that Vaalco Energy will post 0.43 EPS for the current year.

Vaalco Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, August 22nd. Vaalco Energy's dividend payout ratio is 69.44%.

Hedge Funds Weigh In On Vaalco Energy

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Vaalco Energy by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,794 shares of the energy company's stock valued at $261,000 after buying an additional 2,584 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Vaalco Energy by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company's stock valued at $144,000 after purchasing an additional 2,885 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Vaalco Energy by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 55,639 shares of the energy company's stock valued at $243,000 after purchasing an additional 3,142 shares during the period. Intech Investment Management LLC grew its holdings in shares of Vaalco Energy by 5.9% in the second quarter. Intech Investment Management LLC now owns 59,915 shares of the energy company's stock valued at $216,000 after purchasing an additional 3,349 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in shares of Vaalco Energy by 2.9% in the first quarter. SummerHaven Investment Management LLC now owns 125,175 shares of the energy company's stock valued at $471,000 after purchasing an additional 3,507 shares during the period. 50.32% of the stock is currently owned by institutional investors and hedge funds.

Vaalco Energy Company Profile

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.