Vaalco Energy (NYSE:EGY) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Vaalco Energy shares have recently crossed above their 200-day moving average, with current trading at $3.74 after peaking at $3.86.
• The company reported earnings of $0.02 per share for the last quarter, aligning with consensus estimates, and generated revenue of $96.89 million, surpassing expectations of $89.40 million.
• Vaalco Energy declared a quarterly dividend of $0.0625 per share, resulting in a dividend yield of 6.7% and a payout ratio of 69.44%.

Vaalco Energy Inc (NYSE:EGY - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.69 and traded as high as $3.86. Vaalco Energy shares last traded at $3.74, with a volume of 801,426 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on EGY. Zacks Research raised Vaalco Energy from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Vaalco Energy in a research report on Tuesday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Vaalco Energy has a consensus rating of "Hold".

Vaalco Energy Stock Down 2.3%

The firm has a market capitalization of $389.93 million, a PE ratio of 10.39 and a beta of 0.94. 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 firm's 50 day moving average price is $3.94 and its two-hundred day moving average price is $3.69.

Vaalco Energy (NYSE:EGY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Vaalco Energy had a net margin of 8.26% and a return on equity of 4.64%. The business had revenue of $96.89 million for the quarter, compared to analysts' expectations of $89.40 million. As a group, research analysts forecast that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were paid a $0.0625 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.25 annualized dividend and a dividend yield of 6.7%. Vaalco Energy's payout ratio is currently 69.44%.

Institutional Trading of Vaalco Energy

Several hedge funds and other institutional investors have recently modified their holdings of EGY. CWM LLC raised its holdings in shares of Vaalco Energy by 91.1% during the 3rd quarter. CWM LLC now owns 8,469 shares of the energy company's stock valued at $34,000 after purchasing an additional 4,038 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Vaalco Energy during the second quarter valued at approximately $42,000. State of Wyoming acquired a new stake in Vaalco Energy in the second quarter worth about $174,000. Evergreen Capital Management LLC bought a new position in shares of Vaalco Energy in the 2nd quarter worth $59,000. Finally, Tower Research Capital LLC TRC boosted its stake in Vaalco Energy by 89.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,907 shares of the energy company's stock worth $72,000 after acquiring an additional 9,391 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company's stock.

About Vaalco Energy

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.

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