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

StockNews.com cut shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

VAALCO Energy Price Performance

VAALCO Energy stock opened at $4.25 on Tuesday. The company has a market cap of $446.13 million, a price-to-earnings ratio of 4.99 and a beta of 1.18. The firm’s fifty day moving average is $4.34 and its 200 day moving average is $5.22. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. VAALCO Energy has a 52-week low of $3.96 and a 52-week high of $7.51.

VAALCO Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Friday, February 28th. VAALCO Energy’s dividend payout ratio (DPR) is 29.41%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of VAALCO Energy by 4.3% in the third 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. grew its holdings in shares of VAALCO Energy by 8.7% in the fourth quarter. American Century Companies Inc. now owns 3,901,984 shares of the energy company’s stock worth $17,052,000 after purchasing an additional 312,576 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of VAALCO Energy by 9.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 2,786,265 shares of the energy company’s stock worth $12,176,000 after purchasing an additional 247,310 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of VAALCO Energy by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,510,060 shares of the energy company’s stock worth $10,972,000 after purchasing an additional 16,473 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of VAALCO Energy by 51.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company’s stock worth $10,784,000 after purchasing an additional 834,398 shares during the last quarter. 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.