Allianz Asset Management GmbH Sells 642,526 Shares of Vaalco Energy Inc $EGY

Allianz Asset Management GmbH reduced its holdings in Vaalco Energy Inc (NYSE:EGY) by 67.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,580 shares of the energy company’s stock after selling 642,526 shares during the period. Allianz Asset Management GmbH owned approximately 0.29% of Vaalco Energy worth $1,232,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Wyoming grew its position in Vaalco Energy by 34.5% in the 3rd quarter. State of Wyoming now owns 64,827 shares of the energy company’s stock worth $261,000 after purchasing an additional 16,639 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Vaalco Energy by 6.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,200,015 shares of the energy company’s stock worth $12,864,000 after purchasing an additional 197,549 shares in the last quarter. Arkadios Wealth Advisors bought a new position in Vaalco Energy during the 3rd quarter valued at about $41,000. SG Americas Securities LLC acquired a new position in Vaalco Energy in the third quarter valued at about $150,000. Finally, Financial Consulate Inc. acquired a new position in Vaalco Energy in the third quarter valued at about $234,000. 50.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on EGY. Loop Capital set a $7.30 target price on shares of Vaalco Energy in a research note on Friday, January 16th. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Finally, Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.30.

Vaalco Energy Stock Performance

Shares of Vaalco Energy stock opened at $4.93 on Friday. The company has a market capitalization of $513.47 million, a PE ratio of 18.24 and a beta of 0.27. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $4.12 and its 200 day simple moving average is $3.94. Vaalco Energy Inc has a 12 month low of $3.00 and a 12 month high of $5.38.

Vaalco Energy Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.