Vaalco Energy (NYSE:EGY) Stock Crosses Below 200 Day Moving Average – Here’s Why

Vaalco Energy Inc (NYSE:EGY)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $5.64 and traded as low as $5.58. Vaalco Energy shares last traded at $5.6040, with a volume of 1,090,645 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on EGY shares. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Vaalco Energy currently has an average rating of “Hold” and a consensus price target of $7.30.

Vaalco Energy Trading Down 3.4%

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.41. The stock’s 50-day moving average price is $6.04 and its 200 day moving average price is $5.64. The firm has a market capitalization of $589.48 million, a PE ratio of -5.29 and a beta of 0.21.

Vaalco Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, August 21st were paid a dividend of $0.0625 per share. The ex-dividend date was Friday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.5%. Vaalco Energy’s dividend payout ratio (DPR) is currently -23.58%.

Hedge Funds Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of EGY. Tieton Capital Management LLC bought a new position in Vaalco Energy in the second quarter worth approximately $9,324,000. State Street Corp lifted its holdings in Vaalco Energy by 44.2% during the second quarter. State Street Corp now owns 5,173,995 shares of the energy company’s stock worth $26,284,000 after buying an additional 1,585,649 shares during the period. Sei Investments Co. boosted its position in Vaalco Energy by 125.9% during the 1st quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company’s stock valued at $7,703,000 after acquiring an additional 677,176 shares in the last quarter. BlackRock Inc. boosted its position in Vaalco Energy by 6.7% during the 2nd quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company’s stock valued at $45,399,000 after acquiring an additional 558,168 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 389,058 shares in the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. The company focuses primarily on producing assets and development opportunities in Africa and other international markets.

Vaalco has historically operated offshore Gabon, where it developed and produced oil from the Etame Marin field. The company has also expanded its international portfolio through interests and operations in Egypt, Equatorial Guinea and Côte d’Ivoire.