VAALCO Energy Inc. [EGY] Stock trading around $4.60 per share: What’s Next?

VAALCO Energy Inc. [NYSE: EGY] stock went on an upward path that rose over 3.37% on Thursday, amounting to a one-week price decrease of less than -1.08%. The company report on September 21, 2022 that ISS Concludes that TransGlobe Shareholders Vote FOR the Proposed Business Combination with VAALCO Energy, Inc.


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Calgary, Alberta–(Newsfile Corp. – September 21, 2022) – TransGlobe Energy Corporation (AIM: TGL) (TSX: TGL) (NASDAQ: TGA) (“TransGlobe” or the “Company”) is pleased to note the updated report issued by a leading proxy advisor, Institutional Shareholder Services (“ISS”), recommends its institutional clients vote FOR the proposed business combination (“Proposed Transaction”) of TransGlobe and VAALCO Energy, Inc. (NYSE: EGY) (LSE: EGY) (“VAALCO”) to create a world-class African-focused E&P company supporting sustainable shareholder returns and growth.

Following a re-evaluation due to concerns recently raised by a shareholder of TransGlobe, ISS has again concluded that the proposed transaction is of “sound strategic rationale”. In a further statement, ISS highlighted that the merger will provide current shareholders of both organisations the opportunity to participate in the “potential upside represented by a combined company through a more diverse set of operating assets and attractive opportunities for capital allocation”. These highlights, along with ISS’s recommendations, are in line with the TransGlobe Board of Directors’ unanimous approval of the proposed business combination.

Over the last 12 months, EGY stock rose by 82.54%. The one-year VAALCO Energy Inc. stock forecast points to a potential upside of 51.58.

The market cap for the stock reached $271.72 million, with 58.92 million shares outstanding and 57.44 million shares in the current float. Compared to the average trading volume of 2.06M shares, EGY stock reached a trading volume of 2594432 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on VAALCO Energy Inc. [EGY]:

ROTH Capital have made an estimate for VAALCO Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 13, 2021. The new note on the price target was released on April 12, 2021, representing the official price target for VAALCO Energy Inc. stock. Previously, the target price had yet another raise to $4, while ROTH Capital analysts kept a Buy rating on EGY stock.

The Average True Range (ATR) for VAALCO Energy Inc. is set at 0.25, with the Price to Sales ratio for EGY stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 0.90. Price to Free Cash Flow for EGY in the course of the last twelve months was 9.18 with Quick ratio for the last quarter at 0.90.

EGY Stock Performance Analysis:

VAALCO Energy Inc. [EGY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.08. With this latest performance, EGY shares dropped by -12.71% in over the last four-week period, additionally sinking by -30.51% over the last 6 months – not to mention a rise of 82.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGY stock in for the last two-week period is set at 42.56, with the RSI for the last a single of trading hit 43.87, and the three-weeks RSI is set at 42.41 for VAALCO Energy Inc. [EGY]. The present Moving Average for the last 50 days of trading for this stock 5.04, while it was recorded at 4.58 for the last single week of trading, and 5.64 for the last 200 days.

Insight into VAALCO Energy Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and VAALCO Energy Inc. [EGY] shares currently have an operating margin of +39.73 and a Gross Margin at +47.81. VAALCO Energy Inc.’s Net Margin is presently recorded at +40.49.

Return on Equity for this stock inclined to 78.34, with Return on Assets sitting at 39.87.

VAALCO Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

VAALCO Energy Inc. [EGY] Insider Position Details

There are presently around $162 million, or 60.90% of EGY stock, in the hands of institutional investors. The top three institutional holders of EGY stocks are: STATE STREET CORP with ownership of 4,121,516, which is approximately 2032.363% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 3,840,521 shares of the stock with an approximate value of $17.67 million in EGY stocks shares; and WILEN INVESTMENT MANAGEMENT CORP., currently with $14.0 million in EGY stock with ownership of nearly -2.854% of the company’s market capitalization.

Positions in VAALCO Energy Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 79 institutional holders increased their position in VAALCO Energy Inc. [NYSE:EGY] by around 14,156,730 shares. Additionally, 56 investors decreased positions by around 4,273,222 shares, while 12 investors held positions by with 16,790,179 shares. The mentioned changes placed institutional holdings at 35,220,131 shares, according to the latest SEC report filing. EGY stock had 46 new institutional investments in for a total of 3,562,819 shares, while 21 institutional investors sold positions of 1,698,416 shares during the same period.

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