Vaalco Energy Inc $EGY Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its position in Vaalco Energy Inc (NYSE:EGY - Free Report) by 94.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 404,434 shares of the energy company's stock after purchasing an additional 196,791 shares during the period. Bank of America Corp DE owned approximately 0.39% of Vaalco Energy worth $2,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EGY. Sei Investments Co. raised its position in shares of Vaalco Energy by 125.9% during the first quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company's stock worth $7,703,000 after purchasing an additional 677,176 shares during the period. North Star Investment Management Corp. lifted its stake in Vaalco Energy by 159.4% during the first quarter. North Star Investment Management Corp. now owns 275,000 shares of the energy company's stock valued at $1,744,000 after buying an additional 169,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Vaalco Energy by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,028,909 shares of the energy company's stock worth $25,545,000 after buying an additional 389,058 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Vaalco Energy in the first quarter worth approximately $1,043,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Vaalco Energy by 4.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 3,378,835 shares of the energy company's stock valued at $21,422,000 after acquiring an additional 150,175 shares during the period. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Price Performance

Shares of NYSE:EGY opened at $5.94 on Tuesday. The firm has a market cap of $624.83 million, a price-to-earnings ratio of -5.60 and a beta of 0.10. Vaalco Energy Inc has a 1 year low of $3.36 and a 1 year high of $6.72. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $5.60.

Vaalco Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 21st. Vaalco Energy's payout ratio is currently -23.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Vaalco Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (d+)" rating on shares of Vaalco Energy in a report on Friday, August 7th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $7.30.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company's primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.

Want to see what other hedge funds are holding EGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vaalco Energy Inc (NYSE:EGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source