Vaalco Energy (NYSE:EGY) Trading Down 5% – Here’s Why

Vaalco Energy Inc (NYSE:EGY)’s share price fell 5% during trading on Thursday . The company traded as low as $5.22 and last traded at $5.2150. Approximately 433,182 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,477,193 shares. The stock had previously closed at $5.49.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zacks Research raised shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen downgraded Vaalco Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vaalco Energy currently has an average rating of “Reduce” and a consensus target price of $7.30.

Vaalco Energy Trading Down 5.4%

The stock has a market cap of $541.63 million, a PE ratio of -3.80 and a beta of 0.09. The company’s fifty day moving average is $5.59 and its 200-day moving average is $5.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.47.

Vaalco Energy (NYSE:EGY) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.44). The business had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $78.20 million. Vaalco Energy had a negative net margin of 45.86% and a negative return on equity of 12.74%. On average, analysts predict that Vaalco Energy Inc will post 0.11 earnings per share for the current fiscal year.

Vaalco Energy Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Vaalco Energy by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after acquiring an additional 81,203 shares during the period. American Century Companies Inc. grew its stake in shares of Vaalco Energy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock worth $19,058,000 after purchasing an additional 316,570 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Vaalco Energy by 10.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,028,909 shares of the energy company’s stock valued at $25,545,000 after purchasing an additional 389,058 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of Vaalco Energy by 4.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 3,378,835 shares of the energy company’s stock valued at $21,422,000 after purchasing an additional 150,175 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Vaalco Energy by 154.9% during the 4th quarter. UBS Group AG now owns 1,326,729 shares of the energy company’s stock valued at $4,829,000 after purchasing an additional 806,283 shares in the last quarter. 50.32% of the stock is currently owned by hedge funds and other 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.