Zacks Research Downgrades Vaalco Energy (NYSE:EGY) to Strong Sell

Key Points

• Zacks Research downgraded Vaalco Energy (NYSE:EGY) from a "hold" to a "strong sell", and MarketBeat reports an average analyst rating of "Reduce" with an average target price of $7.30.
• Shares trade around $5.30 (52‑week range $3.00–$5.48) with a market cap of about $552.6M and a PE of ~19.6, and the company’s primary producing asset is the offshore Gabon Etame Marin block (Etame Marin).

Vaalco Energy (NYSE:EGY - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen raised Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Sunday, January 18th. Weiss Ratings upgraded Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, January 13th. Finally, Loop Capital set a $7.30 target price on Vaalco Energy in a research report on Friday, January 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $7.30.

Vaalco Energy Price Performance

Shares of EGY stock opened at $5.30 on Wednesday. The firm's 50 day moving average price is $4.58 and its two-hundred day moving average price is $4.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.05. Vaalco Energy has a 52-week low of $3.00 and a 52-week high of $5.48. The stock has a market cap of $552.58 million, a PE ratio of 19.63 and a beta of 0.21.

Institutional Trading of Vaalco Energy

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in Vaalco Energy by 810.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company's stock valued at $27,000 after buying an additional 6,596 shares in the last quarter. CWM LLC raised its holdings in shares of Vaalco Energy by 91.1% during the third quarter. CWM LLC now owns 8,469 shares of the energy company's stock worth $34,000 after acquiring an additional 4,038 shares during the period. Kestra Advisory Services LLC bought a new stake in Vaalco Energy in the 4th quarter valued at $31,000. Arkadios Wealth Advisors bought a new stake in Vaalco Energy in the 3rd quarter valued at $41,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Vaalco Energy in the 3rd quarter worth $44,000. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.