Foundry Partners LLC Increases Holdings in VAALCO Energy, Inc. (NYSE:EGY)

Foundry Partners LLC raised its stake in VAALCO Energy, Inc. (NYSE:EGY - Free Report) by 156.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,200,474 shares of the energy company's stock after acquiring an additional 733,084 shares during the period. Foundry Partners LLC owned approximately 1.16% of VAALCO Energy worth $6,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EGY. Intech Investment Management LLC purchased a new stake in VAALCO Energy during the 3rd quarter valued at about $173,000. Segall Bryant & Hamill LLC purchased a new stake in shares of VAALCO Energy during the third quarter valued at approximately $1,676,000. Empowered Funds LLC increased its position in shares of VAALCO Energy by 5.4% during the third quarter. Empowered Funds LLC now owns 516,736 shares of the energy company's stock valued at $2,966,000 after acquiring an additional 26,264 shares in the last quarter. Victory Capital Management Inc. raised its holdings in VAALCO Energy by 8.3% in the 3rd quarter. Victory Capital Management Inc. now owns 107,623 shares of the energy company's stock worth $618,000 after acquiring an additional 8,209 shares during the last quarter. Finally, Summit Global Investments bought a new position in VAALCO Energy in the 3rd quarter valued at approximately $469,000. 50.32% of the stock is currently owned by institutional investors.

VAALCO Energy Price Performance

EGY opened at $5.30 on Thursday. The company's 50-day simple moving average is $5.72 and its two-hundred day simple moving average is $6.13. VAALCO Energy, Inc. has a 52-week low of $4.03 and a 52-week high of $7.51. The stock has a market capitalization of $549.30 million, a P/E ratio of 6.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34.

VAALCO Energy (NYSE:EGY - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million for the quarter, compared to the consensus estimate of $128.64 million. During the same quarter last year, the company earned $0.07 EPS. As a group, analysts predict that VAALCO Energy, Inc. will post 0.5 EPS for the current year.

VAALCO Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Friday, November 22nd. VAALCO Energy's payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered VAALCO Energy from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.

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