Vaalco Energy (NYSE:EGY) Reaches New 52-Week High – Time to Buy?

Vaalco Energy Inc (NYSE:EGY) shares reached a new 52-week high on Wednesday . The stock traded as high as $4.80 and last traded at $4.8140, with a volume of 230863 shares trading hands. The stock had previously closed at $4.56.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EGY shares. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Loop Capital set a $7.30 target price on Vaalco Energy in a research report on Friday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Vaalco Energy has a consensus rating of “Hold” and an average price target of $7.30.

Vaalco Energy Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 0.99. The firm has a market cap of $497.11 million, a P/E ratio of 17.69 and a beta of 0.22. The stock’s 50 day moving average is $3.66 and its two-hundred day moving average is $3.79.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings data on Monday, November 10th. The energy company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Vaalco Energy had a net margin of 7.40% and a return on equity of 1.02%. The company had revenue of $61.01 million for the quarter, compared to analyst estimates of $74.30 million. As a group, equities analysts predict that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Friday, November 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, November 21st. Vaalco Energy’s payout ratio is currently 92.59%.

Institutional Trading of Vaalco Energy

Several large investors have recently added to or reduced their stakes in EGY. Vanguard Group Inc. grew its position in Vaalco Energy by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock worth $28,517,000 after acquiring an additional 81,203 shares during the last quarter. American Century Companies Inc. increased its position in Vaalco Energy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock valued at $19,058,000 after acquiring an additional 316,570 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vaalco Energy by 1.7% in the third 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 during the last quarter. Kornitzer Capital Management Inc. KS raised its position in Vaalco Energy by 6.6% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,200,015 shares of the energy company’s stock worth $12,864,000 after purchasing an additional 197,549 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in 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 buying an additional 162,023 shares during the last quarter. 50.32% of the stock is owned by institutional investors.

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.