Kovack Advisors Inc. Lowers Stock Holdings in VAALCO Energy, Inc. (NYSE:EGY)

Kovack Advisors Inc. cut its stake in shares of VAALCO Energy, Inc. (NYSE:EGY) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 231,100 shares of the energy company’s stock after selling 30,800 shares during the period. Kovack Advisors Inc.’s holdings in VAALCO Energy were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Simplicity Solutions LLC acquired a new position in shares of VAALCO Energy in the fourth quarter valued at approximately $52,000. Bleakley Financial Group LLC purchased a new position in VAALCO Energy in the 4th quarter valued at $52,000. Counterpoint Mutual Funds LLC purchased a new position in VAALCO Energy in the 1st quarter valued at $136,000. Raymond James Financial Services Advisors Inc. increased its stake in VAALCO Energy by 22.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,739 shares of the energy company’s stock valued at $89,000 after buying an additional 3,650 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in VAALCO Energy by 48.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,375 shares of the energy company’s stock worth $105,000 after buying an additional 7,662 shares during the last quarter. 50.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Roth Mkm lifted their price objective on VAALCO Energy from $7.25 to $8.00 and gave the company a “buy” rating in a report on Tuesday, June 11th.

VAALCO Energy Stock Up 4.7 %

VAALCO Energy stock opened at $6.49 on Friday. The stock’s 50 day moving average price is $6.24 and its 200 day moving average price is $5.53. The company has a market cap of $671.46 million, a PE ratio of 10.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.66 and a quick ratio of 1.64. VAALCO Energy, Inc. has a 1-year low of $3.61 and a 1-year high of $7.51.

VAALCO Energy (NYSE:EGY) last issued its earnings results on Tuesday, May 7th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The company had revenue of $100.16 million for the quarter, compared to analyst estimates of $91.23 million. VAALCO Energy had a net margin of 13.60% and a return on equity of 14.04%. On average, sell-side analysts predict that VAALCO Energy, Inc. will post 0.47 EPS for the current fiscal year.

VAALCO Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 17th were issued a $0.063 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.25 dividend on an annualized basis and a yield of 3.88%. VAALCO Energy’s dividend payout ratio (DPR) is presently 41.67%.

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.