Allspring Global Investments Holdings LLC Takes $686,000 Position in Vaalco Energy Inc $EGY

Allspring Global Investments Holdings LLC acquired a new stake in Vaalco Energy Inc (NYSE:EGY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 108,172 shares of the energy company’s stock, valued at approximately $686,000. Allspring Global Investments Holdings LLC owned about 0.10% of Vaalco Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Vaalco Energy by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after purchasing an additional 81,203 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Vaalco Energy by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company’s stock worth $15,001,000 after buying an additional 62,474 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in Vaalco Energy by 4.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 3,378,835 shares of the energy company’s stock worth $21,422,000 after buying an additional 150,175 shares during the period. UBS Group AG increased its position in shares of Vaalco Energy by 154.9% during the fourth quarter. UBS Group AG now owns 1,326,729 shares of the energy company’s stock valued at $4,829,000 after acquiring an additional 806,283 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Vaalco Energy by 3.5% during the second quarter. Bridgeway Capital Management LLC now owns 1,318,552 shares of the energy company’s stock valued at $4,760,000 after acquiring an additional 44,772 shares during the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

Vaalco Energy Stock Down 6.9%

Vaalco Energy stock opened at $5.17 on Tuesday. The firm has a market capitalization of $538.50 million, a P/E ratio of -3.77 and a beta of 0.09. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. Vaalco Energy Inc has a twelve month low of $3.36 and a twelve month high of $6.72. The stock’s fifty day simple moving average is $5.39 and its 200-day simple moving average is $5.41.

Vaalco Energy (NYSE:EGY) last released its earnings results on Thursday, May 7th. The energy company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.44). Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%.The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $78.20 million. As a group, equities analysts expect that Vaalco Energy Inc will post 0.11 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 22nd were paid a $0.0625 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 4.8%. Vaalco Energy’s payout ratio is currently -18.25%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Vaalco Energy from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings cut Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Vaalco Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Vaalco Energy currently has a consensus rating of “Reduce” and an average price target of $7.30.

Vaalco Energy Company 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.