State Street Corp Grows Position in VAALCO Energy, Inc. (NYSE:EGY)

State Street Corp raised its holdings in VAALCO Energy, Inc. (NYSE:EGY - Free Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,285,378 shares of the energy company's stock after purchasing an additional 176,259 shares during the period. State Street Corp owned 4.13% of VAALCO Energy worth $24,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of VAALCO Energy in the second quarter valued at $96,000. Bank of New York Mellon Corp grew its holdings in VAALCO Energy by 6.2% during 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. Bailard Inc. bought a new stake in shares of VAALCO Energy during the second quarter valued at about $256,000. Arkadios Wealth Advisors purchased a new stake in shares of VAALCO Energy in the second quarter worth about $64,000. Finally, Innealta Capital LLC bought a new position in shares of VAALCO Energy in the second quarter valued at approximately $60,000. Institutional investors own 50.32% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of VAALCO Energy from a "buy" rating to a "hold" rating in a report on Thursday.

VAALCO Energy Price Performance

NYSE EGY traded up $0.01 during trading on Monday, reaching $4.32. The company's stock had a trading volume of 1,004,643 shares, compared to its average volume of 994,803. The firm has a fifty day moving average of $5.28 and a 200 day moving average of $5.93. VAALCO Energy, Inc. has a one year low of $4.03 and a one year high of $7.51. The stock has a market capitalization of $448.17 million, a PE ratio of 5.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32.

VAALCO Energy (NYSE:EGY - Get Free Report) last announced its 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 net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million during the quarter, compared to analysts' expectations of $128.64 million. During the same period in the prior year, the business earned $0.07 earnings per share. Analysts expect that VAALCO Energy, Inc. will post 0.5 EPS for the current fiscal 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 given a $0.0625 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.25 annualized dividend and a yield of 5.79%. VAALCO Energy's dividend payout ratio (DPR) is presently 29.41%.

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.