Vaalco Energy (NYSE:EGY) Shares Gap Up – Still a Buy?

Vaalco Energy Inc (NYSE:EGY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.35, but opened at $5.58. Vaalco Energy shares last traded at $6.0430, with a volume of 769,516 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Loop Capital set a $7.30 price objective on Vaalco Energy in a research note on Friday, January 16th. Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Finally, Weiss Ratings upgraded shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Trading Up 2.1%

The business’s 50-day simple moving average is $5.63 and its two-hundred day simple moving average is $4.52. The firm has a market capitalization of $632.44 million, a price-to-earnings ratio of -15.16 and a beta of 0.19. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Vaalco Energy (NYSE:EGY) last posted 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 return on equity of 0.81% and a negative net margin of 11.52%.The company had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million. Equities analysts forecast that Vaalco Energy Inc will post 0.13 earnings per share for the current year.

Vaalco Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, February 27th. Vaalco Energy’s payout ratio is currently -62.50%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in Vaalco Energy by 91.1% during the 3rd quarter. CWM LLC now owns 8,469 shares of the energy company’s stock worth $34,000 after buying an additional 4,038 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Vaalco Energy in the fourth quarter valued at $31,000. Pasadena Private Wealth LLC purchased a new position in Vaalco Energy in the first quarter valued at $63,000. Arkadios Wealth Advisors acquired a new position in Vaalco Energy during the 3rd quarter worth $41,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Vaalco Energy during the 3rd quarter worth about $44,000. Institutional investors and hedge funds 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.