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

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

VAALCO Energy Trading Down 1.8 %

EGY traded down $0.10 during trading hours on Tuesday, reaching $5.43. 1,379,303 shares of the company’s stock traded hands, compared to its average volume of 982,614. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $5.76 and a 200 day moving average price of $6.18. The firm has a market capitalization of $563.32 million, a PE ratio of 6.70 and a beta of 1.19. VAALCO Energy has a 52-week low of $4.00 and a 52-week high of $7.51.

Institutional Trading of VAALCO Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in VAALCO Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock worth $41,988,000 after purchasing an additional 124,853 shares during the period. American Century Companies Inc. grew its position in VAALCO Energy by 33.2% in the second quarter. American Century Companies Inc. now owns 2,813,832 shares of the energy company’s stock worth $17,643,000 after acquiring an additional 701,568 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in shares of VAALCO Energy by 5.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock worth $14,574,000 after buying an additional 121,005 shares during the period. First Sabrepoint Capital Management LP boosted its position in shares of VAALCO Energy by 5.3% during the first quarter. First Sabrepoint Capital Management LP now owns 1,790,000 shares of the energy company’s stock worth $12,476,000 after buying an additional 90,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of VAALCO Energy by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 1,318,650 shares of the energy company’s stock worth $8,268,000 after buying an additional 76,779 shares during the period. 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.