Principal Financial Group Inc. Increases Position in VAALCO Energy, Inc. (NYSE:EGY)

Principal Financial Group Inc. grew its holdings in shares of VAALCO Energy, Inc. (NYSE:EGY) by 362.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,965 shares of the energy company’s stock after acquiring an additional 38,372 shares during the quarter. Principal Financial Group Inc.’s holdings in VAALCO Energy were worth $281,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of VAALCO Energy by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock worth $41,988,000 after acquiring an additional 124,853 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of VAALCO Energy by 221.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 33,782 shares of the energy company’s stock valued at $235,000 after buying an additional 23,288 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of VAALCO Energy by 30.7% during the first quarter. Quadrature Capital Ltd now owns 114,770 shares of the energy company’s stock valued at $799,000 after purchasing an additional 26,949 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of VAALCO Energy by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,678 shares of the energy company’s stock valued at $458,000 after buying an additional 4,590 shares during the period. Finally, Simplicity Wealth LLC lifted its holdings in VAALCO Energy by 13.8% in the second quarter. Simplicity Wealth LLC now owns 13,617 shares of the energy company’s stock valued at $85,000 after acquiring an additional 1,648 shares during the period. Hedge funds and other institutional investors own 50.32% of the company’s stock.

VAALCO Energy Stock Performance

Shares of NYSE:EGY opened at $5.23 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $5.71 and its 200 day moving average is $6.11. VAALCO Energy, Inc. has a 12 month low of $4.03 and a 12 month high of $7.51. The company has a market capitalization of $542.58 million, a price-to-earnings ratio of 6.15 and a beta of 1.19.

VAALCO Energy (NYSE:EGY) last posted its earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $0.07 EPS. Research analysts predict that VAALCO Energy, Inc. will post 0.5 EPS for the current year.

VAALCO Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 22nd will be given a $0.0625 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.25 annualized dividend and a dividend yield of 4.78%. VAALCO Energy’s dividend payout ratio (DPR) is 29.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded VAALCO Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.