Vaalco Energy (NYSE:EGY) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Vaalco Energy Inc (NYSE:EGY)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.65 and traded as high as $6.16. Vaalco Energy shares last traded at $6.0750, with a volume of 975,036 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EGY. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Vaalco Energy in a research note on Friday, August 7th. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vaalco Energy has a consensus rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Trading Up 1.2%

The company has a market capitalization of $656.61 million, a PE ratio of -5.89 and a beta of 0.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.44. The business has a fifty day moving average price of $5.59 and a 200 day moving average price of $5.66.

Vaalco Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, August 21st will be issued a $0.0625 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.0%. Vaalco Energy’s dividend payout ratio (DPR) is presently -23.58%.

Institutional Investors Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of EGY. California State Teachers Retirement System raised its stake in shares of Vaalco Energy by 30.2% in the 2nd quarter. California State Teachers Retirement System now owns 7,295 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,691 shares during the period. Lazard Asset Management LLC boosted its position in Vaalco Energy by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 108,583 shares of the energy company’s stock worth $688,000 after purchasing an additional 2,119 shares during the period. The Manufacturers Life Insurance Company boosted its position in Vaalco Energy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,765 shares of the energy company’s stock worth $144,000 after purchasing an additional 2,885 shares during the period. Intech Investment Management LLC increased its holdings in Vaalco Energy by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 62,892 shares of the energy company’s stock valued at $253,000 after purchasing an additional 2,977 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Vaalco Energy by 0.9% in the 1st quarter. First Trust Advisors LP now owns 333,556 shares of the energy company’s stock valued at $2,115,000 after purchasing an additional 3,116 shares in the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.