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

Franklin Resources Inc. lessened its position in shares of VAALCO Energy, Inc. (NYSE:EGY) by 42.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 467,631 shares of the energy company’s stock after selling 350,793 shares during the period. Franklin Resources Inc.’s holdings in VAALCO Energy were worth $2,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of VAALCO Energy during the third quarter worth $173,000. Charles Schwab Investment Management Inc. increased its holdings in shares of VAALCO Energy by 66.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,824 shares of the energy company’s stock valued at $5,527,000 after acquiring an additional 386,071 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of VAALCO Energy by 5.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock worth $14,574,000 after acquiring an additional 121,005 shares in the last quarter. Foundry Partners LLC lifted its stake in VAALCO Energy by 156.8% during the third quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock worth $6,891,000 after purchasing an additional 733,084 shares during the last quarter. Finally, State Street Corp boosted its holdings in VAALCO Energy by 4.3% in the third quarter. State Street Corp now owns 4,285,378 shares of the energy company’s stock valued at $24,598,000 after purchasing an additional 176,259 shares in the last quarter. 50.32% of the stock is currently owned by institutional investors and hedge funds.

VAALCO Energy Stock Performance

Shares of EGY stock opened at $4.33 on Thursday. The stock’s 50-day moving average is $5.21 and its two-hundred day moving average is $5.91. 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, Inc. has a 1 year low of $4.03 and a 1 year high of $7.51. The firm has a market cap of $449.21 million, a price-to-earnings ratio of 5.09 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share (EPS) 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 firm had revenue of $140.33 million for the quarter, compared to analysts’ expectations of $128.64 million. During the same quarter in the prior year, the business earned $0.07 EPS. Analysts predict that VAALCO Energy, Inc. will post 0.5 earnings per share for the current year.

VAALCO Energy Cuts Dividend

The firm also recently declared 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 of this dividend was Friday, November 22nd. This represents a $0.25 annualized dividend and a yield of 5.77%. VAALCO Energy’s dividend payout ratio (DPR) is 29.41%.

Analyst Upgrades and Downgrades

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

VAALCO Energy Company 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.