Vaalco Energy (NYSE:EGY) Shares Gap Down – Time to Sell?

Vaalco Energy Inc (NYSE:EGY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $6.34, but opened at $6.11. Vaalco Energy shares last traded at $6.0350, with a volume of 302,183 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EGY. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Zacks Research lowered Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. Finally, Loop Capital set a $7.30 price target on Vaalco Energy in a report on Friday, January 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vaalco Energy has an average rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Price Performance

The company has a 50-day moving average of $5.37 and a 200 day moving average of $4.35. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $653.19 million, a PE ratio of -15.66 and a beta of 0.19.

Vaalco Energy (NYSE:EGY) last announced its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The firm had revenue of $91.04 million during the quarter, compared to analysts’ expectations of $76.30 million. Sell-side analysts predict that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, February 27th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, February 27th. This represents a $0.25 dividend on an annualized basis and a yield of 4.0%. Vaalco Energy’s payout ratio is presently -62.50%.

Institutional Trading of Vaalco Energy

A number of hedge funds have recently bought and sold shares of EGY. The Manufacturers Life Insurance Company boosted its holdings in shares of Vaalco Energy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock worth $144,000 after purchasing an additional 2,885 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Vaalco Energy by 5.0% in 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 last quarter. GF Fund Management CO. LTD. increased 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 valued at $114,000 after purchasing an additional 3,136 shares during the last quarter. Lakewood Asset Management LLC lifted its position in Vaalco Energy by 7.1% during the fourth quarter. Lakewood Asset Management LLC now owns 51,178 shares of the energy company’s stock worth $186,000 after buying an additional 3,389 shares in the last quarter. Finally, Ausdal Financial Partners Inc. boosted its stake in Vaalco Energy by 31.1% during the second quarter. Ausdal Financial Partners Inc. now owns 15,641 shares of the energy company’s stock worth $56,000 after buying an additional 3,712 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

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.