Vaalco Energy (NYSE:EGY) Shares Gap Up – Here’s What Happened

Vaalco Energy Inc (NYSE:EGY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.80, but opened at $6.00. Vaalco Energy shares last traded at $6.0150, with a volume of 275,222 shares trading hands.

Wall Street Analyst Weigh In

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

Vaalco Energy Price Performance

The firm has a market capitalization of $623.98 million, a P/E ratio of -14.99 and a beta of 0.19. The business has a 50-day moving average of $5.51 and a 200 day moving average of $4.44. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 0.26.

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

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, February 27th. Vaalco Energy’s payout ratio is currently -62.50%.

Institutional Trading of Vaalco Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in 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 in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Vaalco Energy by 6.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,200,015 shares of the energy company’s stock worth $12,864,000 after purchasing an additional 197,549 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Vaalco Energy during the 2nd quarter worth approximately $84,000. Oxford Asset Management LLP bought a new stake in Vaalco Energy during the 4th quarter worth approximately $84,000. Finally, Evergreen Capital Management LLC bought a new stake in Vaalco Energy during the 2nd quarter worth approximately $59,000. 50.32% of the stock is owned by 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.