VAALCO Energy (NYSE:EGY) Upgraded at

VAALCO Energy (NYSE:EGYGet Rating) was upgraded by equities research analysts at from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

VAALCO Energy Stock Down 0.6 %

Shares of EGY traded down $0.03 during mid-day trading on Tuesday, hitting $4.82. The company’s stock had a trading volume of 870,282 shares, compared to its average volume of 1,195,539. The company’s 50-day moving average is $4.73 and its 200-day moving average is $4.96. VAALCO Energy has a 52-week low of $3.67 and a 52-week high of $8.77. The firm has a market capitalization of $522.37 million, a price-to-earnings ratio of 4.23 and a beta of 1.64. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01.

VAALCO Energy (NYSE:EGYGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The energy company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.40. VAALCO Energy had a net margin of 21.81% and a return on equity of 60.93%. The firm had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $62.58 million. On average, equities research analysts forecast that VAALCO Energy will post 1.69 EPS for the current fiscal year.

Insider Activity at VAALCO Energy

In related news, COO Thor Pruckl sold 37,337 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $5.34, for a total transaction of $199,379.58. Following the completion of the sale, the chief operating officer now owns 96,238 shares of the company’s stock, valued at $513,910.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On VAALCO Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of EGY. Ellevest Inc. acquired a new position in VAALCO Energy during the 3rd quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its stake in VAALCO Energy by 5,581.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,113 shares of the energy company’s stock valued at $35,000 after purchasing an additional 5,023 shares in the last quarter. Bank of America Corp DE acquired a new position in VAALCO Energy during the 1st quarter valued at approximately $40,000. Prelude Capital Management LLC acquired a new position in VAALCO Energy during the 3rd quarter valued at approximately $44,000. Finally, Petrus Trust Company LTA acquired a new position in VAALCO Energy during the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 31.61% of the company’s stock.

About VAALCO Energy

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VAALCO Energy, Inc engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon and Equatorial Guinea. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation.

Further Reading

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