VAALCO Energy, Inc. (NYSE:EGY) Stake Boosted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC lifted its stake in VAALCO Energy, Inc. (NYSE:EGY) by 2.9% during the first quarter, HoldingsChannel reports. The fund owned 125,175 shares of the energy company’s stock after purchasing an additional 3,507 shares during the quarter. SummerHaven Investment Management LLC’s holdings in VAALCO Energy were worth $471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Simplicity Wealth LLC purchased a new position in VAALCO Energy in the first quarter valued at about $40,000. Parallel Advisors LLC lifted its holdings in shares of VAALCO Energy by 776.1% during the 1st quarter. Parallel Advisors LLC now owns 8,305 shares of the energy company’s stock valued at $31,000 after buying an additional 7,357 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in VAALCO Energy in the fourth quarter valued at approximately $226,000. GF Fund Management CO. LTD. bought a new stake in VAALCO Energy in the fourth quarter worth approximately $141,000. Finally, GTS Securities LLC grew its position in VAALCO Energy by 49.1% in the fourth quarter. GTS Securities LLC now owns 19,268 shares of the energy company’s stock worth $84,000 after acquiring an additional 6,343 shares in the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of VAALCO Energy from a “buy” rating to a “hold” rating in a report on Friday, May 16th.

Insiders Place Their Bets

In related news, COO Thor Pruckl sold 10,169 shares of VAALCO Energy stock in a transaction on Monday, March 24th. The shares were sold at an average price of $3.95, for a total value of $40,167.55. Following the transaction, the chief operating officer now owns 174,992 shares in the company, valued at $691,218.40. This trade represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

VAALCO Energy Trading Down 0.8%

VAALCO Energy stock opened at $3.76 on Friday. VAALCO Energy, Inc. has a one year low of $3.00 and a one year high of $7.43. The company’s fifty day moving average price is $3.39 and its two-hundred day moving average price is $3.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. The company has a market capitalization of $390.36 million, a price-to-earnings ratio of 4.42 and a beta of 0.83.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Thursday, May 8th. The energy company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $110.33 million during the quarter, compared to the consensus estimate of $99.30 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. On average, analysts forecast that VAALCO Energy, Inc. will post 0.43 earnings per share for the current fiscal year.

VAALCO Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.0625 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.25 dividend on an annualized basis and a yield of 6.65%. VAALCO Energy’s payout ratio is currently 45.45%.

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.