BlackRock Inc. Increases Stock Position in Vaalco Energy Inc $EGY

Key Points

• BlackRock increased its Vaalco Energy stake by 6.7% in the second quarter, adding 558,168 shares to own 8.94 million shares, or approximately 8.57% of the company. Institutional investors collectively hold 50.32% of EGY.
• Vaalco declared a quarterly dividend of $0.0625, equivalent to $0.25 annually and a 4.2% yield. The dividend is scheduled for payment on September 22 to shareholders of record on August 21.
• EGY recently traded at $5.94, while analysts maintain a cautious outlook: the stock has a consensus “Reduce” rating and a $7.30 target price, with one analyst rating it Hold and another Sell.

BlackRock Inc. boosted its holdings in Vaalco Energy Inc (NYSE:EGY - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,936,762 shares of the energy company's stock after purchasing an additional 558,168 shares during the quarter. BlackRock Inc. owned about 8.57% of Vaalco Energy worth $45,399,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Vaalco Energy during the 4th quarter worth $31,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Vaalco Energy in the third quarter valued at about $44,000. Qube Research & Technologies Ltd purchased a new stake in shares of Vaalco Energy in the third quarter valued at about $47,000. StoneX Group Inc. acquired a new stake in shares of Vaalco Energy during the fourth quarter worth about $48,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Vaalco Energy during the third quarter worth about $55,000. Institutional investors and hedge funds own 50.32% of the company's stock.

Vaalco Energy Stock Performance

NYSE EGY opened at $5.94 on Tuesday. The stock has a market capitalization of $624.83 million, a price-to-earnings ratio of -5.60 and a beta of 0.10. The business's 50 day moving average is $5.43 and its two-hundred day moving average is $5.60. Vaalco Energy Inc has a 12-month low of $3.36 and a 12-month high of $6.72. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60.

Vaalco Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st will be given a $0.0625 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.2%. Vaalco Energy's dividend payout ratio is presently -23.58%.

Analysts Set New Price Targets

EGY has been the topic of several recent research reports. Wall Street Zen upgraded Vaalco Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vaalco Energy in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $7.30.

Vaalco Energy Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company's primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.

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