Vaalco Energy (NYSE:EGY) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Vaalco Energy (NYSE:EGY) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other brokerages also recently commented on EGY. Weiss Ratings restated a “sell (d+)” rating on shares of Vaalco Energy in a research note on Friday, August 7th. Zacks Research upgraded Vaalco Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Stock Up 2.6%

EGY stock opened at $5.78 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.47. Vaalco Energy has a 1-year low of $3.36 and a 1-year high of $6.72. The firm has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $5.52. The firm has a market cap of $607.47 million, a price-to-earnings ratio of -5.45 and a beta of 0.10.

Vaalco Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, August 21st will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, August 21st. Vaalco Energy’s dividend payout ratio is currently -23.58%.

Institutional Trading of Vaalco Energy

A number of institutional investors have recently made changes to their positions in EGY. Kestra Advisory Services LLC bought a new stake in Vaalco Energy during the fourth quarter worth approximately $31,000. Pasadena Private Wealth LLC bought a new position in Vaalco Energy during the 1st quarter valued at $63,000. CIBC Bancorp USA Inc. bought a new position in Vaalco Energy during the 3rd quarter valued at $44,000. Qube Research & Technologies Ltd acquired a new position in shares of Vaalco Energy during the 3rd quarter valued at $47,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Vaalco Energy during the 2nd quarter valued at $61,000. 50.32% of the stock is owned by institutional investors and hedge funds.

Vaalco Energy Company Profile

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.