Vaalco Energy (NYSE:EGY) Reaches New 52-Week High – Time to Buy?

Vaalco Energy Inc (NYSE:EGY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $5.60 and last traded at $5.53, with a volume of 382064 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

EGY has been the topic of several analyst reports. Zacks Research lowered Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Loop Capital set a $7.30 price target on shares of Vaalco Energy in a research report on Friday, January 16th. Finally, Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $7.30.

Vaalco Energy Price Performance

The business has a fifty day moving average of $4.62 and a two-hundred day moving average of $4.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.05. The firm has a market capitalization of $581.77 million, a price-to-earnings ratio of 20.67 and a beta of 0.21.

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 27th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.25 annualized dividend and a dividend yield of 4.5%. Vaalco Energy’s dividend payout ratio is presently 92.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EGY. Creative Planning boosted its holdings in shares of Vaalco Energy by 354.2% during the second quarter. Creative Planning now owns 268,939 shares of the energy company’s stock worth $971,000 after acquiring an additional 209,724 shares during the period. CSM Advisors LLC bought a new position in shares of Vaalco Energy during the second quarter worth approximately $6,608,000. Gamco Investors INC. ET AL acquired a new stake in Vaalco Energy during the 2nd quarter worth approximately $2,770,000. Geode Capital Management LLC lifted its holdings in Vaalco Energy by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company’s stock worth $10,629,000 after purchasing an additional 162,023 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Vaalco Energy by 6.4% in the 2nd quarter. American Century Companies Inc. now owns 4,424,286 shares of the energy company’s stock valued at $15,972,000 after purchasing an additional 266,514 shares during the period. Institutional investors and hedge funds own 50.32% of the company’s stock.

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.