Vaalco Energy (NYSE:EGY) Shares Gap Down – What’s Next?

Vaalco Energy Inc (NYSE:EGY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.34, but opened at $6.11. Vaalco Energy shares last traded at $6.0350, with a volume of 302,183 shares trading hands.

Analysts Set New Price Targets

EGY has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Loop Capital set a $7.30 price target on Vaalco Energy in a research note on Friday, January 16th. Finally, Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Stock Down 3.9%

The firm’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $4.33. The company has a market cap of $635.45 million, a PE ratio of -15.24 and a beta of 0.21. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Vaalco Energy (NYSE:EGY) last issued its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Vaalco Energy had a negative return on equity of 0.81% and a negative net margin of 11.52%.The business had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million. As a group, equities research analysts expect that Vaalco Energy Inc will post 0.43 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, March 27th. Stockholders of record on Friday, February 27th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, February 27th. Vaalco Energy’s payout ratio is -62.50%.

Institutional Trading of Vaalco Energy

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Vaalco Energy by 810.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company’s stock valued at $27,000 after purchasing an additional 6,596 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Vaalco Energy during the fourth quarter worth about $31,000. CWM LLC raised its position in shares of Vaalco Energy by 91.1% in the third quarter. CWM LLC now owns 8,469 shares of the energy company’s stock valued at $34,000 after buying an additional 4,038 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Vaalco Energy during the third quarter valued at approximately $41,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Vaalco Energy during the second quarter valued at approximately $42,000. Institutional investors and hedge funds 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.