State Street Corp Buys 176,259 Shares of VAALCO Energy, Inc. (NYSE:EGY)

State Street Corp increased its stake in VAALCO Energy, Inc. (NYSE:EGY) by 4.3% in the third quarter, HoldingsChannel reports. The fund owned 4,285,378 shares of the energy company’s stock after purchasing an additional 176,259 shares during the period. State Street Corp’s holdings in VAALCO Energy were worth $24,598,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EGY. Innealta Capital LLC purchased a new position in VAALCO Energy in the 2nd quarter worth approximately $60,000. Arkadios Wealth Advisors bought a new position in shares of VAALCO Energy in the second quarter worth approximately $64,000. nVerses Capital LLC purchased a new position in shares of VAALCO Energy in the third quarter worth $60,000. Crestmont Private Wealth LLC purchased a new position in shares of VAALCO Energy in the third quarter worth $63,000. Finally, SG Americas Securities LLC bought a new stake in VAALCO Energy during the 2nd quarter valued at $96,000. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

VAALCO Energy Price Performance

Shares of EGY stock opened at $4.31 on Monday. 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 fifty-two week low of $4.03 and a fifty-two week high of $7.51. The firm has a market cap of $447.13 million, a P/E ratio of 5.07 and a beta of 1.18. The business’s 50 day moving average price is $5.28 and its 200-day moving average price is $5.93.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings data 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 net margin of 17.93% and a return on equity of 15.63%. The company had revenue of $140.33 million for the quarter, compared to analysts’ expectations of $128.64 million. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that VAALCO Energy, Inc. will post 0.5 earnings per share for the current year.

VAALCO Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 22nd were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, November 22nd. VAALCO Energy’s payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

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

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.