VAALCO Energy (NYSE:EGY) Rating Increased to Buy at StockNews.com

VAALCO Energy (NYSE:EGY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

VAALCO Energy Price Performance

Shares of EGY stock traded up $0.17 during trading hours on Wednesday, reaching $5.01. The company’s stock had a trading volume of 1,811,962 shares, compared to its average volume of 991,074. VAALCO Energy has a fifty-two week low of $4.03 and a fifty-two week high of $7.51. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $519.22 million, a price-to-earnings ratio of 5.89 and a beta of 1.18. The firm’s 50 day simple moving average is $5.51 and its 200-day simple moving average is $6.01.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. During the same period in the previous year, the business earned $0.07 earnings per share. Sell-side analysts forecast that VAALCO Energy will post 0.5 earnings per share for the current year.

Institutional Trading of VAALCO Energy

Several institutional investors have recently made changes to their positions in EGY. Wilmington Savings Fund Society FSB bought a new stake in VAALCO Energy during the 3rd quarter valued at $308,000. Barclays PLC grew its position in VAALCO Energy by 319.0% during the 3rd quarter. Barclays PLC now owns 160,736 shares of the energy company’s stock worth $923,000 after purchasing an additional 122,373 shares during the period. Geode Capital Management LLC grew its position in VAALCO Energy by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,493,587 shares of the energy company’s stock valued at $14,316,000 after buying an additional 109,090 shares during the period. Zacks Investment Management increased its position in shares of VAALCO Energy by 19.6% in the third quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock valued at $89,000 after buying an additional 2,527 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of VAALCO Energy during the 3rd quarter worth about $142,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.