Vaalco Energy Inc $EGY Shares Newly Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC acquired a new position in Vaalco Energy Inc (NYSE:EGY) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 121,668 shares of the energy company’s stock, valued at approximately $698,000.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Vaalco Energy by 44.2% during the second quarter. State Street Corp now owns 5,173,995 shares of the energy company’s stock worth $26,284,000 after purchasing an additional 1,585,649 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Vaalco Energy in the second quarter valued at approximately $41,000. AXQ Capital LP purchased a new stake in Vaalco Energy in the second quarter valued at approximately $269,000. Pinnacle Holdings LLC acquired a new position in Vaalco Energy in the 2nd quarter worth approximately $1,051,000. Finally, Tieton Capital Management LLC acquired a new position in Vaalco Energy in the 2nd quarter worth approximately $9,324,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Vaalco Energy Trading Up 3.2%

NYSE EGY opened at $6.21 on Friday. The company has a market capitalization of $652.70 million, a PE ratio of -5.85 and a beta of 0.24. The company has a fifty day moving average of $5.94 and a 200 day moving average of $5.73. Vaalco Energy Inc has a 1 year low of $3.36 and a 1 year high of $6.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.41.

Vaalco Energy Dividend Announcement

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