Allianz Asset Management GmbH Sells 196,360 Shares of Vaalco Energy Inc (NYSE:EGY)

Key Points

• Allianz Asset Management GmbH has reduced its stake in Vaalco Energy Inc by 11.8%, selling 196,360 shares during the first quarter, now holding 1,469,537 shares worth approximately $5.5 million.
• Vaalco Energy's stock price fell 2.0% to $3.76, with a market cap of $389.84 million and a PE ratio of 6.83.
• The company announced a quarterly dividend of $0.0625, representing an annual yield of 6.66%, with a dividend payout ratio of 45.45%.

Allianz Asset Management GmbH lessened its stake in Vaalco Energy Inc (NYSE:EGY - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,469,537 shares of the energy company's stock after selling 196,360 shares during the period. Allianz Asset Management GmbH owned about 1.40% of Vaalco Energy worth $5,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC grew its position in shares of Vaalco Energy by 776.1% in the 1st quarter. Parallel Advisors LLC now owns 8,305 shares of the energy company's stock worth $31,000 after buying an additional 7,357 shares during the last quarter. CWM LLC grew its position in shares of Vaalco Energy by 259.6% in the 1st quarter. CWM LLC now owns 9,681 shares of the energy company's stock worth $36,000 after buying an additional 6,989 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Vaalco Energy in the 4th quarter worth approximately $38,000. Simplicity Wealth LLC bought a new stake in shares of Vaalco Energy in the 1st quarter worth approximately $40,000. Finally, First Manhattan CO. LLC. bought a new stake in shares of Vaalco Energy in the 4th quarter worth approximately $50,000. 50.32% of the stock is currently owned by institutional investors.

Vaalco Energy Stock Down 2.2%

Shares of EGY traded down $0.09 on Thursday, reaching $3.75. The stock had a trading volume of 159,325 shares, compared to its average volume of 930,661. The company has a 50-day simple moving average of $3.65 and a 200-day simple moving average of $3.78. The firm has a market capitalization of $388.81 million, a price-to-earnings ratio of 6.81 and a beta of 0.84. Vaalco Energy Inc has a 12-month low of $3.00 and a 12-month high of $7.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.09 and a current ratio of 1.13.

Vaalco Energy (NYSE:EGY - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Vaalco Energy had a return on equity of 8.74% and a net margin of 11.97%. The firm had revenue of $110.33 million during the quarter, compared to analysts' expectations of $99.30 million. Sell-side analysts predict that Vaalco Energy Inc will post 0.43 EPS for the current year.

Vaalco Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 23rd were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend was Friday, May 23rd. Vaalco Energy's payout ratio is currently 45.45%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Vaalco Energy from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

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.