Zacks Research Upgrades Vaalco Energy (NYSE:EGY) to Hold

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 report issued on Monday morning,Zacks.com reports.

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

Vaalco Energy Stock Performance

Shares of NYSE:EGY traded down $0.12 on Monday, hitting $3.83. The company had a trading volume of 718,651 shares, compared to its average volume of 834,220. Vaalco Energy has a 1-year low of $3.00 and a 1-year high of $6.45. The stock has a market cap of $398.79 million, a price-to-earnings ratio of 10.63 and a beta of 0.97. The stock has a 50 day moving average price of $3.77 and a 200 day moving average price of $3.67. The company has a current ratio of 1.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.24.

Vaalco Energy (NYSE:EGY - Get Free Report) last released its earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $96.89 million for 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%. Analysts expect that Vaalco Energy will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.0625 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 6.5%. Vaalco Energy's payout ratio is presently 69.44%.

Institutional Investors Weigh In On Vaalco Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CSM Advisors LLC purchased a new stake in Vaalco Energy during the 2nd quarter valued at approximately $6,608,000. Millennium Management LLC bought a new stake in Vaalco Energy in the fourth quarter worth $6,515,000. Hotchkis & Wiley Capital Management LLC lifted its position in Vaalco Energy by 49.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,825,000 shares of the energy company's stock worth $10,622,000 after buying an additional 931,230 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vaalco Energy by 51.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company's stock worth $10,784,000 after purchasing an additional 834,398 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Vaalco Energy during the second quarter worth $2,770,000. 50.32% of the stock is owned by hedge funds and other institutional investors.

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.