VAALCO Energy (NYSE:EGY) Stock Price Down 3.6%

Shares of VAALCO Energy, Inc. (NYSE:EGY) fell 3.6% during trading on Tuesday . The company traded as low as $6.66 and last traded at $6.70. 1,565,681 shares traded hands during mid-day trading, an increase of 58% from the average session volume of 990,810 shares. The stock had previously closed at $6.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 23rd.

VAALCO Energy Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.79 and a quick ratio of 1.77. The firm has a market capitalization of $718.76 million, a PE ratio of 12.43 and a beta of 1.23. The business’s 50 day moving average is $4.73 and its two-hundred day moving average is $4.52.

VAALCO Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.063 per share. This is an increase from VAALCO Energy’s previous quarterly dividend of $0.06. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, March 7th. VAALCO Energy’s payout ratio is currently 44.64%.

Institutional Investors Weigh In On VAALCO Energy

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in shares of VAALCO Energy during the 1st quarter valued at about $40,000. Metropolitan Life Insurance Co NY grew its holdings in shares of VAALCO Energy by 80.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,446 shares of the energy company’s stock valued at $29,000 after purchasing an additional 2,872 shares during the last quarter. Legal & General Group Plc purchased a new position in VAALCO Energy in the 2nd quarter worth $61,000. DekaBank Deutsche Girozentrale purchased a new stake in VAALCO Energy during the third quarter valued at about $38,000. Finally, Prelude Capital Management LLC bought a new position in shares of VAALCO Energy during the third quarter valued at about $44,000. Hedge funds and other 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.