SummerHaven Investment Management LLC Makes New $698,000 Investment in Vaalco Energy Inc $EGY

SummerHaven Investment Management LLC acquired a new stake in shares of Vaalco Energy Inc (NYSE:EGY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 121,668 shares of the energy company’s stock, valued at approximately $698,000. SummerHaven Investment Management LLC owned about 0.12% of Vaalco Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Vaalco Energy by 44.2% in the 2nd quarter. State Street Corp now owns 5,173,995 shares of the energy company’s stock worth $26,284,000 after purchasing an additional 1,585,649 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Vaalco Energy during the 2nd quarter valued at about $41,000. AXQ Capital LP acquired a new position in Vaalco Energy during the 2nd quarter valued at about $269,000. Pinnacle Holdings LLC acquired a new position in Vaalco Energy during the 2nd quarter valued at about $1,051,000. Finally, Tieton Capital Management LLC purchased a new stake in Vaalco Energy in the second quarter valued at about $9,324,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EGY. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.30.

Vaalco Energy Trading Up 3.2%

Shares of Vaalco Energy stock opened at $6.21 on Friday. The firm’s 50 day simple moving average is $5.94 and its two-hundred day simple moving average is $5.73. The firm has a market capitalization of $652.70 million, a price-to-earnings ratio of -5.85 and a beta of 0.24. Vaalco Energy Inc has a 12-month low of $3.36 and a 12-month high of $6.72. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60.

Vaalco Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, August 21st were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend 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.