Franklin Resources Inc. Sells 355,370 Shares of VAALCO Energy, Inc. (NYSE:EGY)

Franklin Resources Inc. lessened its holdings in shares of VAALCO Energy, Inc. (NYSE:EGY - Free Report) by 76.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,261 shares of the energy company's stock after selling 355,370 shares during the quarter. Franklin Resources Inc. owned 0.11% of VAALCO Energy worth $491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC lifted its stake in VAALCO Energy by 13.1% in the fourth quarter. Brandywine Global Investment Management LLC now owns 351,550 shares of the energy company's stock valued at $1,536,000 after acquiring an additional 40,720 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in VAALCO Energy during the fourth quarter worth about $38,000. JPMorgan Chase & Co. increased its position in VAALCO Energy by 61.1% during the fourth quarter. JPMorgan Chase & Co. now owns 246,107 shares of the energy company's stock worth $1,075,000 after buying an additional 93,309 shares during the last quarter. EntryPoint Capital LLC bought a new stake in VAALCO Energy in the fourth quarter valued at approximately $399,000. Finally, Segall Bryant & Hamill LLC lifted its position in shares of VAALCO Energy by 1.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 294,929 shares of the energy company's stock valued at $1,289,000 after buying an additional 2,875 shares during the last quarter. 50.32% of the stock is currently owned by institutional investors.

VAALCO Energy Price Performance

NYSE:EGY traded up $0.11 during trading hours on Friday, reaching $3.49. 730,873 shares of the company were exchanged, compared to its average volume of 962,964. The company has a market capitalization of $361.54 million, a P/E ratio of 4.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. The business has a 50 day moving average of $3.83 and a 200 day moving average of $4.58. VAALCO Energy, Inc. has a 1-year low of $3.00 and a 1-year high of $7.43.

VAALCO Energy (NYSE:EGY - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $121.72 million for the quarter, compared to analyst estimates of $108.91 million. VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. Research analysts forecast that VAALCO Energy, Inc. will post 0.43 EPS for the current year.

VAALCO Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date was Friday, February 28th. VAALCO Energy's payout ratio is 45.45%.

Insider Transactions at VAALCO Energy

In other VAALCO Energy news, COO Thor Pruckl sold 10,169 shares of VAALCO Energy stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $3.95, for a total transaction of $40,167.55. Following the transaction, the chief operating officer now directly owns 174,992 shares of the company's stock, valued at approximately $691,218.40. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com cut VAALCO Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th.

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.