Cubist Systematic Strategies LLC Lowers Position in VAALCO Energy, Inc. (NYSE:EGY)

Cubist Systematic Strategies LLC cut its stake in VAALCO Energy, Inc. (NYSE:EGY – Get Rating) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,633 shares of the energy company’s stock after selling 45,875 shares during the period. Cubist Systematic Strategies LLC owned 0.22% of VAALCO Energy worth $574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kovack Advisors Inc. lifted its holdings in VAALCO Energy by 35.5% in the third quarter. Kovack Advisors Inc. now owns 309,200 shares of the energy company’s stock worth $1,348,000 after buying an additional 81,050 shares during the period. Crown Advisors Management Inc. purchased a new stake in VAALCO Energy in the third quarter worth about $872,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in VAALCO Energy by 5.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,626 shares of the energy company’s stock worth $1,006,000 after buying an additional 11,125 shares during the period. Tower Research Capital LLC TRC lifted its holdings in VAALCO Energy by 834.9% in the third quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the energy company’s stock worth $223,000 after buying an additional 45,577 shares during the period. Finally, Cambria Investment Management L.P. purchased a new stake in VAALCO Energy in the third quarter worth about $634,000. 31.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Roth Capital reaffirmed a “buy” rating on shares of VAALCO Energy in a research note on Monday, March 6th. Stifel Nicolaus assumed coverage on shares of VAALCO Energy in a research note on Wednesday, March 1st. They set a “buy” rating for the company. Finally, StockNews.com downgraded shares of VAALCO Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th.

VAALCO Energy Price Performance

Shares of NYSE EGY opened at $4.60 on Monday. The company has a market capitalization of $498.53 million, a price-to-earnings ratio of 4.04 and a beta of 1.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.86. The company has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $4.81. VAALCO Energy, Inc. has a fifty-two week low of $3.93 and a fifty-two week high of $8.77.

VAALCO Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 24th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $0.25 annualized dividend and a dividend yield of 5.43%. This is an increase from VAALCO Energy’s previous quarterly dividend of $0.03. VAALCO Energy’s dividend payout ratio (DPR) is 21.93%.

About VAALCO Energy

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VAALCO Energy, Inc engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon and Equatorial Guinea. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation.