VAALCO Energy (NYSE:EGY) Downgraded to "Hold" Rating by StockNews.com

VAALCO Energy (NYSE:EGY - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

VAALCO Energy Stock Performance

Shares of NYSE:EGY traded down $0.07 during trading on Friday, hitting $3.31. 902,416 shares of the company traded hands, compared to its average volume of 942,608. The stock has a market capitalization of $343.12 million, a price-to-earnings ratio of 3.89 and a beta of 0.87. The business's fifty day moving average is $3.52 and its 200-day moving average is $4.20. VAALCO Energy has a one year low of $3.00 and a one year high of $7.43. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14.

VAALCO Energy (NYSE:EGY - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $110.33 million during the quarter, compared to analyst estimates of $99.30 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. As a group, equities analysts predict that VAALCO Energy will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at VAALCO Energy

In other news, COO Thor Pruckl sold 10,169 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $3.95, for a total transaction of $40,167.55. Following the completion of the transaction, the chief operating officer now directly owns 174,992 shares in the company, valued at approximately $691,218.40. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds and other institutional investors have recently made changes to their positions in EGY. IFP Advisors Inc acquired a new stake in VAALCO Energy in the fourth quarter worth approximately $27,000. Parallel Advisors LLC lifted its holdings in shares of VAALCO Energy by 776.1% in the first quarter. Parallel Advisors LLC now owns 8,305 shares of the energy company's stock valued at $31,000 after purchasing an additional 7,357 shares in the last quarter. CWM LLC increased its stake in shares of VAALCO Energy by 259.6% in the first quarter. CWM LLC now owns 9,681 shares of the energy company's stock worth $36,000 after acquiring an additional 6,989 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of VAALCO Energy in the fourth quarter worth $38,000. Finally, Simplicity Wealth LLC acquired a new position in shares of VAALCO Energy in the first quarter worth $40,000. 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.