UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in VAALCO Energy, Inc. (NYSE:EGY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in VAALCO Energy, Inc. (NYSE:EGY) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 428,325 shares of the energy company’s stock after selling 31,100 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in VAALCO Energy were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EGY. SG Americas Securities LLC acquired a new position in shares of VAALCO Energy in the 2nd quarter valued at about $96,000. Bank of New York Mellon Corp raised its holdings in VAALCO Energy by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 1,318,650 shares of the energy company’s stock valued at $8,268,000 after buying an additional 76,779 shares during the period. Bailard Inc. acquired a new position in VAALCO Energy during the second quarter valued at approximately $256,000. Arkadios Wealth Advisors purchased a new stake in VAALCO Energy during the second quarter worth approximately $64,000. Finally, Innealta Capital LLC acquired a new stake in shares of VAALCO Energy in the second quarter worth $60,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

VAALCO Energy Price Performance

Shares of NYSE EGY opened at $4.96 on Friday. The company has a market capitalization of $514.55 million, a price-to-earnings ratio of 5.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.34 and a quick ratio of 1.32. VAALCO Energy, Inc. has a 1-year low of $4.03 and a 1-year high of $7.51. The business has a 50-day moving average of $5.45 and a 200-day moving average of $6.00.

VAALCO Energy (NYSE:EGY) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The company had revenue of $140.33 million during the quarter, compared to analysts’ expectations of $128.64 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities analysts anticipate that VAALCO Energy, Inc. will post 0.5 EPS for the current fiscal year.

VAALCO Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 5.04%. VAALCO Energy’s payout ratio is currently 29.41%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of VAALCO Energy from a “hold” rating to a “buy” rating in a report on Wednesday.

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.