Vaalco Energy Sees Unusually Large Options Volume (NYSE:EGY)

Vaalco Energy Inc (NYSE:EGY) was the recipient of unusually large options trading on Friday. Traders bought 2,437 call options on the stock. This is an increase of approximately 389% compared to the typical daily volume of 498 call options.

Hedge Funds Weigh In On Vaalco Energy

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Vaalco Energy by 44.2% during the 2nd quarter. State Street Corp now owns 5,173,995 shares of the energy company’s stock valued at $26,284,000 after purchasing an additional 1,585,649 shares during the last quarter. BlackRock Inc. increased its position in shares of Vaalco Energy by 6.7% during the 2nd quarter. BlackRock Inc. now owns 8,936,762 shares of the energy company’s stock valued at $45,399,000 after purchasing an additional 558,168 shares during the last quarter. Bank of America Corp DE increased its position in Vaalco Energy by 94.8% during the first quarter. Bank of America Corp DE now owns 404,434 shares of the energy company’s stock valued at $2,564,000 after acquiring an additional 196,791 shares during the last quarter. Tieton Capital Management LLC purchased a new stake in shares of Vaalco Energy in the second quarter worth approximately $9,324,000. Finally, Sei Investments Co. grew its position in Vaalco Energy by 125.9% in the 1st quarter. Sei Investments Co. now owns 1,214,918 shares of the energy company’s stock valued at $7,703,000 after acquiring an additional 677,176 shares during the last quarter. 50.32% of the stock is owned by hedge funds and other institutional investors.

Vaalco Energy Price Performance

Shares of EGY stock traded up $0.20 on Friday, hitting $6.21. 1,312,920 shares of the stock traded hands, compared to its average volume of 1,302,834. The firm has a market cap of $652.70 million, a price-to-earnings ratio of -5.85 and a beta of 0.24. Vaalco Energy has a 52 week low of $3.36 and a 52 week high of $6.72. The firm has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $5.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.41.

Vaalco Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, August 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, August 21st. Vaalco Energy’s payout ratio is presently -23.58%.

Wall Street Analysts Forecast Growth

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

Vaalco Energy Company Profile

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.