Vanguard Group Inc. Trims Stock Position in Vaalco Energy Inc $EGY

Key Points

• Vanguard Group Inc. has reduced its stake in Vaalco Energy Inc. by 1.1%, now holding 6,976,318 shares, worth approximately $26.23 million.
• The company reported a quarterly earnings per share (EPS) of $0.02, matching analysts' estimates, with revenue exceeding expectations at $96.89 million.
• Vaalco Energy announced a quarterly dividend of $0.0625 per share, resulting in an annualized yield of 6.4%.

Vanguard Group Inc. lowered its stake in shares of Vaalco Energy Inc (NYSE:EGY - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,976,318 shares of the energy company's stock after selling 79,579 shares during the period. Vanguard Group Inc. owned 6.64% of Vaalco Energy worth $26,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in Vaalco Energy during the fourth quarter worth approximately $6,515,000. Dimensional Fund Advisors LP lifted its holdings in shares of Vaalco Energy by 51.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company's stock worth $10,784,000 after buying an additional 834,398 shares during the period. First Sabrepoint Capital Management LP increased its position in Vaalco Energy by 34.5% during the 4th 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 period. Kornitzer Capital Management Inc. KS raised its stake in 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 buying an additional 197,790 shares in the last quarter. Finally, CoreCommodity Management LLC boosted its position in Vaalco Energy by 95.7% during the fourth quarter. CoreCommodity Management LLC now owns 324,858 shares of the energy company's stock valued at $1,420,000 after purchasing an additional 158,856 shares in the last quarter. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Stock Up 1.7%

Vaalco Energy stock traded up $0.07 during trading on Tuesday, reaching $3.95. The stock had a trading volume of 269,093 shares, compared to its average volume of 917,153. The stock has a market cap of $411.31 million, a PE ratio of 10.93 and a beta of 0.97. The business has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.68. The company has a quick ratio of 1.38, a current ratio of 1.39 and a debt-to-equity ratio of 0.24. Vaalco Energy Inc has a 52-week low of $3.00 and a 52-week high of $6.45.

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

Vaalco Energy Announces Dividend

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

Analysts Set New Price Targets

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

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.