Vaalco Energy Inc (NYSE:EGY) Short Interest Update

Vaalco Energy Inc (NYSE:EGY) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 4,121,908 shares, a growth of 21.6% from the February 26th total of 3,390,110 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,853,710 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research downgraded Vaalco Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Loop Capital set a $7.30 price target on Vaalco Energy in a research note on Friday, January 16th. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Finally, Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $7.30.

Institutional Investors Weigh In On Vaalco Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EGY. PNC Financial Services Group Inc. grew its stake in shares of Vaalco Energy by 810.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,410 shares of the energy company’s stock valued at $27,000 after acquiring an additional 6,596 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Vaalco Energy in the 4th quarter worth about $31,000. CWM LLC raised its stake in Vaalco Energy by 91.1% in the 3rd quarter. CWM LLC now owns 8,469 shares of the energy company’s stock worth $34,000 after purchasing an additional 4,038 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Vaalco Energy in the 3rd quarter valued at about $41,000. Finally, Corient Private Wealth LLC bought a new stake in Vaalco Energy in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 50.32% of the company’s stock.

Vaalco Energy Trading Up 1.5%

Shares of EGY stock opened at $6.54 on Tuesday. Vaalco Energy has a 12-month low of $3.00 and a 12-month high of $6.72. The company has a market capitalization of $681.34 million, a PE ratio of -16.34 and a beta of 0.21. The firm has a 50 day moving average price of $5.27 and a two-hundred day moving average price of $4.31. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Vaalco Energy (NYSE:EGY) last posted its earnings results on Thursday, March 12th. The energy company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $91.04 million during the quarter, compared to analyst estimates of $76.30 million. Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. As a group, analysts predict that Vaalco Energy will post 0.43 earnings per share for the current year.

Vaalco Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 27th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, February 27th. This represents a $0.25 annualized dividend and a yield of 3.8%. Vaalco Energy’s dividend payout ratio (DPR) is presently -62.50%.

About Vaalco Energy

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.