Vaalco Energy (NYSE:EGY) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Vaalco Energy Inc (NYSE:EGY) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.13 and traded as high as $5.22. Vaalco Energy shares last traded at $5.0450, with a volume of 1,741,968 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EGY shares. Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings cut Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Vaalco Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 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 data from MarketBeat, Vaalco Energy presently has a consensus rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Stock Performance

The stock has a market cap of $525.99 million, a price-to-earnings ratio of -3.68 and a beta of 0.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.47 and a current ratio of 0.51. The company’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $5.13.

Vaalco Energy (NYSE:EGY) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.44). Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%.The business had revenue of $62.60 million during the quarter, compared to analyst estimates of $78.20 million. On average, equities research analysts anticipate that Vaalco Energy Inc will post 0.11 earnings per share for the current year.

Vaalco Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.0%. Vaalco Energy’s dividend payout ratio (DPR) is -18.25%.

Institutional Investors Weigh In On Vaalco Energy

Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its holdings in Vaalco Energy by 23.9% in the first quarter. Segall Bryant & Hamill LLC now owns 334,558 shares of the energy company’s stock worth $2,121,000 after buying an additional 64,566 shares during the last quarter. Bank of America Corp DE lifted its stake in Vaalco Energy by 94.8% in the first quarter. Bank of America Corp DE now owns 404,434 shares of the energy company’s stock valued at $2,564,000 after acquiring an additional 196,791 shares during the last quarter. Empowered Funds LLC grew its position in Vaalco Energy by 8.4% in the first quarter. Empowered Funds LLC now owns 582,497 shares of the energy company’s stock worth $3,693,000 after acquiring an additional 45,157 shares in the last quarter. Quantinno Capital Management LP bought a new stake in Vaalco Energy in the first quarter worth approximately $330,000. Finally, Lazard Asset Management LLC increased its stake in shares of Vaalco Energy by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 108,583 shares of the energy company’s stock worth $688,000 after purchasing an additional 2,119 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.