Goldman Sachs Group Inc. Acquires 182,489 Shares of Vaalco Energy Inc $EGY

Key Points

• Goldman Sachs Group Inc. increased its stake in Vaalco Energy Inc by 32.9%, owning approximately 0.71% of the company worth $2.77 million after acquiring an additional 182,489 shares.
• Vaalco Energy recently reported a quarterly EPS of $0.02, meeting expectations, with revenues of $96.89 million, surpassing the forecast of $89.40 million.
• The company declared a quarterly dividend of $0.0625 per share, representing an annualized yield of 6.0% and a payout ratio of 69.44%.

Goldman Sachs Group Inc. raised its position in Vaalco Energy Inc (NYSE:EGY - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 737,435 shares of the energy company's stock after buying an additional 182,489 shares during the quarter. Goldman Sachs Group Inc. owned about 0.71% of Vaalco Energy worth $2,773,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in Vaalco Energy in the 1st quarter valued at about $312,000. CWA Asset Management Group LLC increased its holdings in Vaalco Energy by 36.9% in the 1st quarter. CWA Asset Management Group LLC now owns 109,892 shares of the energy company's stock valued at $413,000 after buying an additional 29,635 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Vaalco Energy by 7.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 2,984,055 shares of the energy company's stock valued at $11,220,000 after buying an additional 197,790 shares during the period. Millennium Management LLC bought a new position in Vaalco Energy in the 4th quarter valued at about $6,515,000. Finally, Squarepoint Ops LLC bought a new position in Vaalco Energy in the 4th quarter valued at about $497,000. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Price Performance

Shares of Vaalco Energy stock traded up $0.21 during midday trading on Tuesday, hitting $4.32. 86,944 shares of the company traded hands, compared to its average volume of 899,559. The stock has a market cap of $449.88 million, a price-to-earnings ratio of 12.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.38 and a current ratio of 1.39. The firm's fifty day moving average price is $3.82 and its 200-day moving average price is $3.67. Vaalco Energy Inc has a 12 month low of $3.00 and a 12 month high of $6.45.

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

Vaalco Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.25 annualized dividend and a dividend yield of 5.8%. Vaalco Energy's payout ratio is 69.44%.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Vaalco Energy from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

About Vaalco Energy

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.