VAALCO Energy (NYSE:EGY) Raised to Buy at StockNews.com

VAALCO Energy (NYSE:EGY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

VAALCO Energy Stock Performance

Shares of EGY traded down $0.01 during midday trading on Monday, reaching $4.55. 563,842 shares of the stock were exchanged, compared to its average volume of 819,980. The business’s 50-day moving average price is $4.76 and its 200 day moving average price is $5.66. The company has a market capitalization of $477.66 million, a price-to-earnings ratio of 5.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. VAALCO Energy has a twelve month low of $4.03 and a twelve month high of $7.51.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $140.33 million during the quarter, compared to analysts’ expectations of $128.64 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, sell-side analysts expect that VAALCO Energy will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On VAALCO Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in EGY. Dimensional Fund Advisors LP raised its stake in shares of VAALCO Energy by 7,129.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 895,210 shares of the energy company’s stock worth $5,613,000 after buying an additional 882,827 shares in the last quarter. Foundry Partners LLC lifted its stake in VAALCO Energy by 156.8% in the 3rd quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock valued at $6,891,000 after buying an additional 733,084 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in VAALCO Energy by 66.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock valued at $5,527,000 after buying an additional 386,071 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in VAALCO Energy during the 3rd quarter worth about $1,676,000. Finally, State Street Corp raised its position 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 valued at $24,598,000 after buying an additional 176,259 shares during the last quarter. Hedge funds and other 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.