VAALCO Energy (NYSE:EGY) Downgraded to “Hold” Rating by StockNews.com

VAALCO Energy (NYSE:EGY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

VAALCO Energy Stock Performance

EGY opened at $4.31 on Thursday. The company has a market cap of $447.13 million, a P/E ratio of 5.07 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.93. VAALCO Energy has a 52-week low of $4.03 and a 52-week high of $7.51.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EGY. Innealta Capital LLC acquired a new position in VAALCO Energy in the 2nd quarter worth approximately $60,000. nVerses Capital LLC purchased a new stake in shares of VAALCO Energy in the 3rd quarter valued at $60,000. Crestmont Private Wealth LLC purchased a new stake in shares of VAALCO Energy in the 3rd quarter valued at $63,000. Arkadios Wealth Advisors acquired a new stake in shares of VAALCO Energy in the second quarter worth $64,000. Finally, Zacks Investment Management raised its holdings in shares of VAALCO Energy by 19.6% during 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 during 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, 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.