Bridgeway Capital Management LLC Lowers Holdings in Vaalco Energy Inc $EGY

Key Points

• Bridgeway Capital Management LLC has reduced its stake in Vaalco Energy Inc. by 9.4%, now holding 1,273,780 shares valued at approximately $4.79 million.
• Analysts have adjusted their ratings for Vaalco Energy, with Wall Street Zen downgrading it from "buy" to "hold," while Zacks upgraded it from "strong sell" to "hold."
• Vaalco Energy recently declared a quarterly dividend of $0.0625, representing an annual yield of 6.3% and a payout ratio of 69.44%.

Bridgeway Capital Management LLC lessened its holdings in Vaalco Energy Inc (NYSE:EGY - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,273,780 shares of the energy company's stock after selling 131,705 shares during the period. Bridgeway Capital Management LLC owned 1.21% of Vaalco Energy worth $4,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of Vaalco Energy by 776.1% during the first quarter. Parallel Advisors LLC now owns 8,305 shares of the energy company's stock valued at $31,000 after acquiring an additional 7,357 shares during the last quarter. CWM LLC raised its holdings in Vaalco Energy by 259.6% in the first 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. Simplicity Wealth LLC purchased a new position in Vaalco Energy in the first quarter worth about $40,000. First Manhattan CO. LLC. purchased a new position in shares of Vaalco Energy in the fourth quarter worth approximately $50,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Vaalco Energy in the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 50.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Vaalco Energy from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Zacks Research raised Vaalco Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Vaalco Energy presently has an average rating of "Hold".

Vaalco Energy Trading Up 1.7%

Shares of NYSE:EGY traded up $0.07 during midday trading on Wednesday, reaching $3.93. 184,744 shares of the company's stock were exchanged, compared to its average volume of 907,414. The firm's 50 day simple moving average is $3.78 and its two-hundred day simple moving average is $3.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.39 and a quick ratio of 1.38. Vaalco Energy Inc has a fifty-two week low of $3.00 and a fifty-two week high of $6.45. The stock has a market cap of $409.22 million, a price-to-earnings ratio of 10.90 and a beta of 0.97.

Vaalco Energy (NYSE:EGY - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Vaalco Energy had a net margin of 8.26% and a return on equity of 4.64%. The firm had revenue of $96.89 million for the quarter, compared to the consensus estimate of $89.40 million. As a group, sell-side analysts forecast that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, August 22nd. Vaalco Energy's payout ratio is currently 69.44%.

Vaalco Energy 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.