Hotchkis & Wiley Capital Management LLC Grows Stock Holdings 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 boosted its holdings in Vaalco Energy Inc (NYSE:EGY - Free Report) by 49.2% in the first quarter, according to its most recent 13F filing with the Securities and 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 period. Hotchkis & Wiley Capital Management LLC owned approximately 2.69% of Vaalco Energy worth $10,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new position in shares of Vaalco Energy during the 1st quarter valued at $312,000. CWA Asset Management Group LLC grew its position in shares of Vaalco Energy by 36.9% during the 1st quarter. CWA Asset Management Group LLC now owns 109,892 shares of the energy company's stock valued at $413,000 after purchasing an additional 29,635 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Vaalco Energy by 7.1% during 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 purchasing an additional 197,790 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Vaalco Energy during the 4th quarter valued at $6,515,000. Finally, JPMorgan Chase & Co. grew its position in shares of Vaalco Energy by 61.1% during the 4th quarter. JPMorgan Chase & Co. now owns 246,107 shares of the energy company's stock valued at $1,075,000 after purchasing an additional 93,309 shares in the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Vaalco Energy Stock Up 2.6%

Shares of NYSE:EGY opened at $3.9590 on Monday. Vaalco Energy Inc has a 52-week low of $3.00 and a 52-week high of $6.66. The firm has a fifty day moving average of $3.75 and a 200 day moving average of $3.70. The firm has a market capitalization of $412.77 million, a PE ratio of 11.00 and a beta of 0.89. 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 (NYSE:EGY - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share (EPS) 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 company had revenue of $96.89 million during the quarter, compared to analyst estimates of $89.40 million. As a group, research analysts anticipate that Vaalco Energy Inc will post 0.43 EPS for the current fiscal year.

Vaalco Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a $0.0625 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.25 annualized dividend and a yield of 6.3%. Vaalco Energy's payout ratio is 69.44%.

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.

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