Vaalco Energy (NYSE:EGY) Shares Cross Above 200-Day Moving Average – Here’s Why

Vaalco Energy Inc (NYSE:EGY)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

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

Vaalco Energy Trading Up 4.1%

The firm has a market cap of $545.69 million, a P/E ratio of -3.82 and a beta of 0.09. The firm’s fifty day moving average is $5.61 and its two-hundred day moving average is $5.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.60.

Vaalco Energy (NYSE:EGY) last issued its quarterly earnings data 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 company had revenue of $62.60 million during the quarter, compared to the consensus estimate of $78.20 million. Analysts predict that Vaalco Energy Inc will post 0.11 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of Vaalco Energy by 2.0% during the first quarter. Lazard Asset Management LLC now owns 108,583 shares of the energy company’s stock valued at $688,000 after purchasing an additional 2,119 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 worth $144,000 after purchasing an additional 2,885 shares in the last quarter. Intech Investment Management LLC raised its holdings in Vaalco Energy by 5.0% in the third quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock worth $253,000 after purchasing an additional 2,977 shares in the last quarter. First Trust Advisors LP lifted its position in 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 buying an additional 3,116 shares during the period. Finally, GF Fund Management CO. LTD. lifted its position in Vaalco Energy by 11.1% during the fourth quarter. GF Fund Management CO. LTD. now owns 31,300 shares of the energy company’s stock valued at $114,000 after buying an additional 3,136 shares during the period. Institutional investors 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.