EGY short ideaEGY is showing weakness after a period of growth, which may indicate buyer exhaustion. The upcoming earnings report adds uncertainty—weak financial results could act as a catalyst for further decline. Volume suggests liquidity outflow, while technical levels fail to provide a strong upward impulse. If the market reacts negatively to the report, there is a high probability of a support break and continued downward movement. It is crucial to closely monitor the market’s reaction to the data.
EGY trade ideas
Long EGY at 6.25 (oversold)It's been a minute, but with the big sell-off I didn't want to spread my capital too thin, and then with the sharp rise subsequently it's hard to find a decent stock that isn't overbought now. Plus with energy not being as correlated to everything else I'm holding, it helps diversify.
Will continue to add lots as long as it is oversold and sell each when it becomes both overbought and profitable. BONUS (though not factored into the trade profit calculations): it's going ex-div on its 1% per quarter dividend Friday.
Vaalco Energy Inc Breakout targets.VAALCO Energy, Inc. engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon and Equatorial Guinea. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation. The company was founded by Virgil A. Walston and Charles Alcorn in 1985 and is headquartered in Houston, TX.
$10 MILLION STOCK REPURCHASE COULD PROPEL THIS MUCH HIGHER ****KEEP STRONG WATCH ON THIS STOCK IT HAS TWO HUGE STIMULANTS BEHIND IT AS LISTED BELOW, PLEASE HAVE A LOOK AT THE ENORMOUS POTENTIAL THIS COULD OFFER IN THE NEXT 12 MONTHS*
SHARE REPURCHASE
VAALCO Energy, Inc. (EGY) today announced that its Board of Directors has authorized a stock repurchase program under which the Company can repurchase up to $10 million of the currently outstanding shares of the Company’s common stock, over a period of 12 months through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934.
INSIDER PURCHASES
The price of EGY has fallen about 40% in just one month. At these prices the PE Ratio is only 1.10.
Two insiders have decided to take advantage of this weakness. Cary Bounds is the CEO. He just bought 6,000 shares. Alfred Knapp is a Director. He just invested $168,000 of his own money when he paid $1.68 for 100,000 shares.
This company isn’t followed by Wall Street but it seems to be headed in the right direction. In 2015 it lost ($2.72) per share. In 2016 that improved to a loss of 45 cents a share.
In 2017 the company reported a profit of $.16 per share, and last years profit was $1.62 a share.
COMPANY PROFILE
VAALCO Energy, Inc. engages in the provision of acquisition, exploration, development and production of crude oil and natural gas. The company was founded in 1985 and is headquartered in Houston, TX.