Vaalco Energy (NYSE:EGY) Shares Gap Down - Here's What Happened

Key Points

• Vaalco Energy gapped down — shares opened at $5.73 after closing at $6.41 and were last at $5.795 with about 703,286 shares traded.
• Quarterly results mixed — EPS missed expectations (‑$0.02 vs. $0.02 expected) while revenue beat ($91.04M vs. $76.30M), and the company pays a quarterly dividend of $0.0625 (4.2% yield).
• Analyst sentiment is mixed — some upgrades to "hold" (Weiss, Wall Street Zen) contrast with a Zacks "strong sell", leaving a MarketBeat consensus of "Reduce" and a $7.30 price target.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $6.41, but opened at $5.73. Vaalco Energy shares last traded at $5.7950, with a volume of 703,286 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, January 13th. Zacks Research lowered shares of Vaalco Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of Vaalco Energy from a "sell" rating to a "hold" rating in a report on Sunday, January 18th. Finally, Loop Capital set a $7.30 price target on shares of Vaalco Energy in a report on Friday, January 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $7.30.

Vaalco Energy Price Performance

The firm has a market cap of $618.78 million, a PE ratio of -14.86 and a beta of 0.19. The stock's fifty day moving average price is $5.46 and its 200-day moving average price is $4.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.68.

Vaalco Energy (NYSE:EGY - Get Free Report) last released its earnings results on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative return on equity of 0.81% and a negative net margin of 11.52%.The business had revenue of $91.04 million for the quarter, compared to analysts' expectations of $76.30 million. As a group, equities analysts expect that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, February 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.2%. Vaalco Energy's dividend payout ratio is presently -62.50%.

Institutional Investors Weigh In On Vaalco Energy

A number of large investors have recently modified their holdings of EGY. UBS Group AG grew its holdings in shares of Vaalco Energy by 154.9% during the fourth quarter. UBS Group AG now owns 1,326,729 shares of the energy company's stock worth $4,829,000 after buying an additional 806,283 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Vaalco Energy during the 2nd quarter valued at about $2,770,000. AQR Capital Management LLC boosted its position in shares of Vaalco Energy by 228.0% during the 1st quarter. AQR Capital Management LLC now owns 744,296 shares of the energy company's stock valued at $2,799,000 after acquiring an additional 517,368 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Vaalco Energy during the 4th quarter valued at about $1,638,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Vaalco Energy during the 3rd quarter valued at about $1,383,000. Hedge funds and other institutional investors own 50.32% of the company's stock.

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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