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

StockNews.com cut shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a report issued on Tuesday morning.

VAALCO Energy Stock Performance

EGY opened at $5.43 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The company has a market cap of $563.31 million, a price-to-earnings ratio of 6.70 and a beta of 1.19. The company’s 50 day moving average is $5.76 and its 200 day moving average is $6.18. VAALCO Energy has a 12-month low of $4.00 and a 12-month high of $7.51.

VAALCO Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Friday, November 22nd. VAALCO Energy’s payout ratio is 30.86%.

Hedge Funds Weigh In On VAALCO Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new position in shares of VAALCO Energy in the second quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in VAALCO Energy during the second quarter valued at approximately $60,000. Arkadios Wealth Advisors purchased a new position in VAALCO Energy during the second quarter valued at approximately $64,000. nVerses Capital LLC purchased a new position in VAALCO Energy during the third quarter valued at approximately $60,000. Finally, Crestmont Private Wealth LLC purchased a new position in VAALCO Energy during the third quarter valued at approximately $63,000. 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.