VAALCO Energy (NYSE:EGY) Stock Price Down 3.2% – What’s Next?

Shares of VAALCO Energy, Inc. (NYSE:EGY) dropped 3.2% during mid-day trading on Wednesday . The company traded as low as $4.84 and last traded at $4.85. Approximately 184,149 shares changed hands during trading, a decline of 81% from the average daily volume of 978,729 shares. The stock had previously closed at $5.01.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of VAALCO Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

VAALCO Energy Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. The stock’s fifty day simple moving average is $5.61 and its 200-day simple moving average is $6.06. The company has a market capitalization of $496.91 million, a P/E ratio of 5.89 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last released its earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities analysts forecast that VAALCO Energy, Inc. will post 0.5 earnings per share for the current fiscal year.

VAALCO Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s payout ratio is presently 29.41%.

Institutional Investors Weigh In On VAALCO Energy

Several hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in VAALCO Energy in the third quarter worth about $308,000. Barclays PLC raised its position in VAALCO Energy by 319.0% in the third quarter. Barclays PLC now owns 160,736 shares of the energy company’s stock worth $923,000 after purchasing an additional 122,373 shares in the last quarter. Geode Capital Management LLC raised its position in VAALCO Energy by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,493,587 shares of the energy company’s stock worth $14,316,000 after purchasing an additional 109,090 shares in the last quarter. Zacks Investment Management raised its position in VAALCO Energy by 19.6% in the third quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock worth $89,000 after purchasing an additional 2,527 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in VAALCO Energy in the third quarter worth about $142,000. Institutional investors own 50.32% of the company’s stock.

About VAALCO Energy

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.