Investors Buy Large Volume of Vaalco Energy Call Options (NYSE:EGY)

Key Points

• Vaalco Energy saw unusually high call-option activity: Investors acquired 2,437 call options, about 389% above the typical volume of 498.
• Analysts upgraded Vaalco from “Sell” to “Hold,” with the stock carrying an average “Hold” rating and a $7.30 price target.
• Institutional investors own 50.32% of the company, while shares recently rose 3.1% to $6.20; Vaalco also offers a quarterly dividend of $0.0625, equivalent to a 4.0% annual yield.

Vaalco Energy Inc (NYSE:EGY - Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors acquired 2,437 call options on the stock. This is an increase of approximately 389% compared to the typical volume of 498 call options.

Analyst Ratings Changes

A number of analysts recently issued reports on EGY shares. Wall Street Zen upgraded shares of Vaalco Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Vaalco Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.30.

Hedge Funds Weigh In On Vaalco Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its holdings in Vaalco Energy by 44.2% during the 2nd quarter. State Street Corp now owns 5,173,995 shares of the energy company's stock valued at $26,284,000 after purchasing an additional 1,585,649 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Vaalco Energy in the 2nd quarter valued at about $41,000. AXQ Capital LP purchased a new position in Vaalco Energy in the 2nd quarter valued at about $269,000. Pinnacle Holdings LLC acquired a new stake in shares of Vaalco Energy during the second quarter valued at about $1,051,000. Finally, Tieton Capital Management LLC acquired a new stake in shares of Vaalco Energy during the second quarter valued at about $9,324,000. Hedge funds and other institutional investors own 50.32% of the company's stock.

Vaalco Energy Trading Up 3.1%

EGY traded up $0.18 on Friday, reaching $6.20. 415,010 shares of the company's stock were exchanged, compared to its average volume of 1,397,264. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.44. The company has a market cap of $651.66 million, a price-to-earnings ratio of -5.85 and a beta of 0.24. The company's 50 day moving average is $5.93 and its 200-day moving average is $5.73. Vaalco Energy has a twelve month low of $3.36 and a twelve month high of $6.72.

Vaalco Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, August 21st were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.25 annualized dividend and a yield of 4.0%. Vaalco Energy's dividend payout ratio (DPR) is -23.58%.

About Vaalco Energy

VAALCO Energy, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil and natural gas. The company's portfolio is focused primarily on assets in Africa and other international markets, with activities spanning exploration, field development, production operations and related infrastructure.

VAALCO has historically operated the Etame Marin field offshore Gabon, one of its principal producing assets. The company has also expanded its international portfolio through interests in Egypt and Equatorial Guinea, giving it exposure to both offshore and onshore oil operations.

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