VAALCO Energy, Inc. (NYSE:EGY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of VAALCO Energy, Inc. (NYSE:EGY - Free Report) by 42.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 467,631 shares of the energy company's stock after selling 350,793 shares during the quarter. Franklin Resources Inc. owned 0.45% of VAALCO Energy worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in VAALCO Energy by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,318,650 shares of the energy company's stock valued at $8,268,000 after buying an additional 76,779 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of VAALCO Energy during the second quarter valued at $64,000. Innealta Capital LLC purchased a new stake in VAALCO Energy during the 2nd quarter worth about $60,000. Cutter & CO Brokerage Inc. acquired a new position in VAALCO Energy in the 2nd quarter valued at about $129,000. Finally, Ritholtz Wealth Management boosted its stake in shares of VAALCO Energy by 153.4% during the 2nd quarter. Ritholtz Wealth Management now owns 55,132 shares of the energy company's stock worth $346,000 after purchasing an additional 33,372 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut VAALCO Energy from a "buy" rating to a "hold" rating in a report on Thursday, December 19th.

VAALCO Energy Trading Down 1.2 %

EGY traded down $0.05 on Thursday, reaching $4.28. 775,643 shares of the company's stock were exchanged, compared to its average volume of 992,027. VAALCO Energy, Inc. has a twelve month low of $4.03 and a twelve month high of $7.51. The company's 50 day moving average is $5.18 and its 200-day moving average is $5.90. The company has a market cap of $444.02 million, a price-to-earnings ratio of 5.04 and a beta of 1.18. 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 announced its quarterly earnings results 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 return on equity of 15.63% and a net margin of 17.93%. The business had revenue of $140.33 million for the quarter, compared to analysts' expectations of $128.64 million. During the same period last year, the company posted $0.07 earnings per share. Equities analysts predict that VAALCO Energy, Inc. will post 0.5 earnings per share for the current year.

VAALCO Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 22nd were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.25 annualized dividend and a dividend yield of 5.84%. VAALCO Energy's payout ratio is currently 29.41%.

VAALCO Energy Profile

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.