Vaalco Energy Sees Unusually High Options Volume (NYSE:EGY)

Vaalco Energy Inc (NYSE:EGY) was the recipient of some unusual options trading on Friday. Stock traders bought 2,437 call options on the company. This represents an increase of approximately 389% compared to the typical daily volume of 498 call options.

Hedge Funds Weigh In On Vaalco Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tieton Capital Management LLC acquired a new stake in shares of Vaalco Energy during the 2nd quarter worth approximately $9,324,000. State Street Corp lifted its position in shares of Vaalco Energy by 44.2% during the 2nd quarter. State Street Corp now owns 5,173,995 shares of the energy company’s stock valued at $26,284,000 after acquiring an additional 1,585,649 shares during the period. Sei Investments Co. lifted its position in shares of Vaalco Energy by 125.9% during the 1st quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company’s stock valued at $7,703,000 after acquiring an additional 677,176 shares during the period. BlackRock Inc. lifted its position in shares of Vaalco Energy by 6.7% during the 2nd quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company’s stock valued at $45,399,000 after acquiring an additional 558,168 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Vaalco Energy by 10.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,028,909 shares of the energy company’s stock worth $25,545,000 after acquiring an additional 389,058 shares in the last quarter. 50.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EGY has been the subject of several recent research reports. Weiss Ratings raised Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Wall Street Zen raised 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.30.

Vaalco Energy Stock Up 3.2%

Shares of Vaalco Energy stock opened at $6.21 on Friday. Vaalco Energy has a one year low of $3.36 and a one 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. The stock’s 50-day moving average is $5.94 and its 200 day moving average is $5.73. The firm has a market cap of $652.70 million, a price-to-earnings ratio of -5.85 and a beta of 0.24.

Vaalco Energy Announces Dividend

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