Vaalco Energy (NYSE:EGY) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Vaalco Energy Inc (NYSE:EGY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.23 and traded as high as $5.25. Vaalco Energy shares last traded at $5.2340, with a volume of 1,311,673 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on EGY shares. Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of Vaalco Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings cut Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vaalco Energy currently has a consensus rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.47. The company has a 50 day simple moving average of $5.61 and a 200-day simple moving average of $5.23. The firm has a market cap of $545.69 million, a PE ratio of -3.82 and a beta of 0.09.

Vaalco Energy (NYSE:EGY) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.45) 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 for the quarter, compared to analysts’ expectations of $78.20 million. As a group, equities research analysts anticipate that Vaalco Energy Inc will post 0.11 EPS for the current year.

Vaalco Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 22nd were paid a $0.0625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.25 annualized dividend and a yield of 4.8%. Vaalco Energy’s payout ratio is currently -18.25%.

Institutional Investors Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its position in 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 acquiring an additional 2,119 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Vaalco Energy by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock valued at $144,000 after purchasing an additional 2,885 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Vaalco Energy by 5.0% during the third quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock valued at $253,000 after purchasing an additional 2,977 shares during the period. First Trust Advisors LP boosted its stake in shares of Vaalco Energy by 0.9% during the first quarter. First Trust Advisors LP now owns 333,556 shares of the energy company’s stock valued at $2,115,000 after purchasing an additional 3,116 shares during the period. Finally, GF Fund Management CO. LTD. grew its holdings in shares of Vaalco Energy by 11.1% in the fourth quarter. GF Fund Management CO. LTD. now owns 31,300 shares of the energy company’s stock worth $114,000 after purchasing an additional 3,136 shares during the last quarter. 50.32% of the stock is currently owned by hedge funds and other 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.