VAALCO Energy, Inc. (NYSE:EGY) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its position in shares of VAALCO Energy, Inc. (NYSE:EGY) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 261,900 shares of the energy company’s stock after selling 6,500 shares during the period. Kovack Advisors Inc.’s holdings in VAALCO Energy were worth $1,176,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundry Partners LLC raised its position in shares of VAALCO Energy by 65.4% during the 4th quarter. Foundry Partners LLC now owns 877,205 shares of the energy company’s stock worth $3,939,000 after buying an additional 347,005 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of VAALCO Energy by 48.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,375 shares of the energy company’s stock worth $105,000 after purchasing an additional 7,662 shares in the last quarter. Simplicity Solutions LLC bought a new stake in shares of VAALCO Energy in the 4th quarter worth approximately $52,000. Bleakley Financial Group LLC acquired a new position in VAALCO Energy in the 4th quarter valued at approximately $52,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in VAALCO Energy by 99.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,156 shares of the energy company’s stock valued at $216,000 after buying an additional 23,954 shares during the period. 50.32% of the stock is owned by institutional investors and hedge funds.

VAALCO Energy Stock Down 0.6 %

Shares of EGY traded down $0.04 during mid-day trading on Friday, hitting $6.39. 864,234 shares of the company’s stock were exchanged, compared to its average volume of 1,110,368. The firm has a fifty day moving average of $5.83 and a two-hundred day moving average of $4.91. VAALCO Energy, Inc. has a twelve month low of $3.51 and a twelve month high of $7.51. The stock has a market cap of $659.90 million, a price-to-earnings ratio of 11.40 and a beta of 1.29. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.16.

VAALCO Energy (NYSE:EGY) last announced its quarterly earnings results on Wednesday, March 13th. The energy company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.15 by $0.22. VAALCO Energy had a net margin of 13.26% and a return on equity of 14.34%. The company had revenue of $149.15 million for the quarter, compared to analyst estimates of $130.53 million. On average, sell-side analysts forecast that VAALCO Energy, Inc. will post 0.2 earnings per share for the current year.

VAALCO Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.063 per share. This is an increase from VAALCO Energy’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Thursday, March 7th. VAALCO Energy’s dividend payout ratio is currently 44.64%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday.

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.