Hotchkis & Wiley Capital Management LLC Increases Stake in Vaalco Energy Inc $EGY

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Vaalco Energy Inc by 49.2%, owning a total of 2,825,000 shares valued at approximately $10.6 million.
• Vaalco Energy's shares are up 2.6%, trading at $3.9590, with a market capitalization of $412.77 million and a PE ratio of 11.00.
• The company announced a quarterly dividend of $0.0625 per share, which represents an annualized yield of 6.3%, to be paid on September 19th.

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Vaalco Energy Inc (NYSE:EGY - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,825,000 shares of the energy company's stock after buying an additional 931,230 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 2.69% of Vaalco Energy worth $10,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EGY. American Century Companies Inc. raised its holdings in shares of Vaalco Energy by 6.6% in the 1st quarter. American Century Companies Inc. now owns 4,157,772 shares of the energy company's stock valued at $15,633,000 after acquiring an additional 255,788 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Vaalco Energy by 7.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 2,984,055 shares of the energy company's stock worth $11,220,000 after purchasing an additional 197,790 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Vaalco Energy by 51.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company's stock valued at $10,784,000 after purchasing an additional 834,398 shares in the last quarter. First Sabrepoint Capital Management LP lifted its position in Vaalco Energy by 34.5% during the fourth quarter. First Sabrepoint Capital Management LP now owns 1,950,000 shares of the energy company's stock valued at $8,522,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Vaalco Energy in the 4th quarter worth approximately $6,515,000. 50.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Vaalco Energy Price Performance

NYSE:EGY traded down $0.01 during mid-day trading on Friday, reaching $3.89. The stock had a trading volume of 541,141 shares, compared to its average volume of 851,072. The stock has a market capitalization of $405.47 million, a P/E ratio of 10.80 and a beta of 0.89. The firm has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $3.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.38 and a current ratio of 1.39. Vaalco Energy Inc has a one year low of $3.00 and a one year high of $6.66.

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

Vaalco Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.25 annualized dividend and a yield of 6.4%. 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.