Martingale Asset Management L P Reduces Stock Position in Vaalco Energy Inc $EGY

Key Points

• Martingale Asset Management L P has significantly reduced its stake in Vaalco Energy Inc by 87.6%, selling 143,832 shares to own only 20,300 shares worth $76,000.
• Vaalco Energy recently announced a quarterly dividend of $0.0625 per share, which translates to an annualized dividend of $0.25 and a yield of 6.6%.
• The company's stock has experienced a price fluctuation, with a 52-week low of $3.00 and a 52-week high of $6.66, currently trading at $3.81.

Martingale Asset Management L P cut its stake in shares of Vaalco Energy Inc (NYSE:EGY - Free Report) by 87.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,300 shares of the energy company's stock after selling 143,832 shares during the period. Martingale Asset Management L P's holdings in Vaalco Energy were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Versor Investments LP raised its holdings in shares of Vaalco Energy by 160.5% in the first quarter. Versor Investments LP now owns 205,300 shares of the energy company's stock valued at $772,000 after purchasing an additional 126,500 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Vaalco Energy by 6.6% during the 1st quarter. American Century Companies Inc. now owns 4,157,772 shares of the energy company's stock worth $15,633,000 after buying an additional 255,788 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Vaalco Energy by 10.3% in the 1st quarter. Russell Investments Group Ltd. now owns 363,953 shares of the energy company's stock worth $1,368,000 after buying an additional 33,960 shares during the last quarter. Nuveen LLC bought a new position in shares of Vaalco Energy in the first quarter valued at approximately $1,655,000. Finally, Koss Olinger Consulting LLC increased its position in shares of Vaalco Energy by 598.6% during the first quarter. Koss Olinger Consulting LLC now owns 140,727 shares of the energy company's stock valued at $529,000 after acquiring an additional 120,582 shares during the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Vaalco Energy Stock Performance

Shares of Vaalco Energy stock traded down $0.01 on Monday, reaching $3.89. 541,141 shares of the company traded hands, compared to its average volume of 842,484. The company has a 50 day moving average of $3.76 and a 200 day moving average of $3.68. 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 52 week low of $3.00 and a 52 week high of $6.66. The firm has a market capitalization of $405.47 million, a PE ratio of 10.80 and a beta of 0.97.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $89.40 million. Equities analysts forecast that Vaalco Energy Inc will post 0.43 earnings per share for the current year.

Vaalco Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued 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 dividend payout ratio (DPR) 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.