VAALCO Energy (NYSE:EGY) Trading Up 4.3% Following Dividend Announcement

VAALCO Energy, Inc. (NYSE:EGY) shares traded up 4.3% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $5.88 and last traded at $5.77. 184,184 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 977,162 shares. The stock had previously closed at $5.53.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is currently 29.41%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of VAALCO Energy from a “buy” rating to a “hold” rating in a report on Tuesday.

VAALCO Energy Stock Performance

The business has a 50 day moving average of $5.75 and a 200-day moving average of $6.17. The company has a market capitalization of $548.78 million, a P/E ratio of 6.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.19.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.79%. The company had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, sell-side analysts predict that VAALCO Energy, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Trading of VAALCO Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of EGY. Gladius Capital Management LP purchased a new stake in VAALCO Energy in the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in shares of VAALCO Energy during the 2nd quarter valued at $60,000. Arkadios Wealth Advisors purchased a new stake in shares of VAALCO Energy during the 2nd quarter valued at $64,000. nVerses Capital LLC bought a new stake in shares of VAALCO Energy during the 3rd quarter worth $60,000. Finally, Crestmont Private Wealth LLC purchased a new position in VAALCO Energy in the third quarter worth $63,000. Institutional investors own 50.32% of the company’s stock.

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.