Vaalco Energy (NYSE:EGY) Trading 5.9% Higher - Here's What Happened

Key Points

• Shares rose 5.9% on Thursday to $6.449 (intraday high $6.52), but trading was thin at ~187,559 shares—about an 88% decline from average volume.
• Analyst sentiment is mixed but tilted negative: MarketBeat shows an average rating of "Reduce" and a $7.30 average target after recent downgrades and a few upgrades to Hold.
• Fundamentals are uneven: the company missed Q1 EPS (‑$0.02 vs $0.02 est.) while beating revenue, pays a quarterly $0.0625 dividend (≈4.0% yield), and reports negative net margin and a negative P/E.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) shares rose 5.9% on Thursday . The company traded as high as $6.52 and last traded at $6.4490. Approximately 187,559 shares traded hands during trading, a decline of 88% from the average daily volume of 1,505,717 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Vaalco Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Sunday, January 18th. Weiss Ratings raised Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, January 13th. Finally, Loop Capital set a $7.30 price target on Vaalco Energy in a research note on Friday, January 16th. One 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 stock presently has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.68. The firm has a market cap of $658.19 million, a price-to-earnings ratio of -15.81 and a beta of 0.19. The business's 50-day moving average price is $5.34 and its two-hundred day moving average price is $4.34.

Vaalco Energy (NYSE:EGY - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The company had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million. On average, research analysts forecast that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, February 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, February 27th. Vaalco Energy's dividend payout ratio is -62.50%.

Hedge Funds Weigh In On Vaalco Energy

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Vaalco Energy by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company's stock valued at $28,517,000 after buying an additional 81,203 shares during the last quarter. American Century Companies Inc. lifted its holdings in Vaalco Energy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company's stock worth $19,058,000 after buying an additional 316,570 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Vaalco Energy by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company's stock worth $15,001,000 after acquiring an additional 62,474 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Vaalco Energy by 0.9% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 3,228,660 shares of the energy company's stock worth $11,752,000 after acquiring an additional 28,645 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Vaalco Energy by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company's stock valued at $10,629,000 after acquiring an additional 162,023 shares during the last quarter. 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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