VAALCO Energy (NYSE:EGY) Shares Down 2.7%

VAALCO Energy, Inc. (NYSE:EGY) shares traded down 2.7% during mid-day trading on Tuesday . The stock traded as low as $6.45 and last traded at $6.47. 651,013 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,055,024 shares. The stock had previously closed at $6.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded VAALCO Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 18th.

VAALCO Energy Price Performance

The company has a market capitalization of $664.03 million, a price-to-earnings ratio of 11.87 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.77 and a current ratio of 1.79. The business has a 50 day moving average price of $5.67 and a 200-day moving average price of $4.85.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings results on Wednesday, March 13th. The energy company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.22. VAALCO Energy had a return on equity of 14.34% and a net margin of 13.26%. The business had revenue of $149.15 million for the quarter, compared to the consensus estimate of $130.53 million. Research analysts predict that VAALCO Energy, Inc. will post 1.23 EPS for the current fiscal year.

VAALCO Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 3.92%. This is a positive change from VAALCO Energy’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, March 7th. VAALCO Energy’s dividend payout ratio is 44.64%.

Institutional Investors Weigh In On VAALCO Energy

Institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI increased its stake in VAALCO Energy by 9,600.0% in the first quarter. Arcadia Investment Management Corp MI now owns 14,550 shares of the energy company’s stock valued at $101,000 after acquiring an additional 14,400 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in VAALCO Energy in the first quarter valued at $136,000. Annex Advisory Services LLC increased its stake in VAALCO Energy by 14.8% in the first quarter. Annex Advisory Services LLC now owns 221,595 shares of the energy company’s stock valued at $1,545,000 after acquiring an additional 28,638 shares during the last quarter. Unison Advisors LLC increased its holdings in shares of VAALCO Energy by 1.4% in the first quarter. Unison Advisors LLC now owns 128,087 shares of the energy company’s stock worth $893,000 after buying an additional 1,734 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in VAALCO Energy during the 4th quarter valued at about $394,000. Hedge funds and other institutional investors 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.