VAALCO Energy (NYSE:EGY) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.11 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a market cap of $431.41 million, a PE ratio of 4.83 and a beta of 1.18. VAALCO Energy has a 12-month low of $3.96 and a 12-month high of $7.51. The business’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $5.20.

VAALCO Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend is Friday, February 28th. VAALCO Energy’s dividend payout ratio is presently 29.41%.

Hedge Funds Weigh In On VAALCO Energy

Several hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in VAALCO Energy by 4.3% during the 3rd quarter. State Street Corp now owns 4,285,378 shares of the energy company’s stock worth $24,598,000 after purchasing an additional 176,259 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of VAALCO Energy by 8.7% during the fourth quarter. American Century Companies Inc. now owns 3,901,984 shares of the energy company’s stock worth $17,052,000 after buying an additional 312,576 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of VAALCO Energy by 9.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 2,786,265 shares of the energy company’s stock valued at $12,176,000 after buying an additional 247,310 shares during the last quarter. Geode Capital Management LLC increased its position in shares of VAALCO Energy by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,510,060 shares of the energy company’s stock valued at $10,972,000 after acquiring an additional 16,473 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in VAALCO Energy by 51.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company’s stock worth $10,784,000 after acquiring an additional 834,398 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

VAALCO Energy Company Profile

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.