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

Vaalco Energy Inc (NYSE:EGY) was the recipient of some unusual options trading activity on Thursday. Investors purchased 25,863 call options on the stock. This is an increase of 6,073% compared to the average daily volume of 419 call options.

Vaalco Energy Stock Down 0.3%

Shares of EGY opened at $5.16 on Friday. The business’s fifty day moving average price is $3.84 and its two-hundred day moving average price is $3.85. The firm has a market capitalization of $537.46 million, a price-to-earnings ratio of 19.09 and a beta of 0.22. Vaalco Energy has a 52 week low of $3.00 and a 52 week high of $5.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.05.

Vaalco Energy (NYSE:EGY) last issued its quarterly earnings results on Monday, November 10th. The energy company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $61.01 million for the quarter, compared to analyst estimates of $74.30 million. Vaalco Energy had a net margin of 7.40% and a return on equity of 1.02%. On average, analysts predict that Vaalco Energy will post 0.43 earnings per share for the current year.

Vaalco Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Friday, November 21st were given a dividend of $0.0625 per share. The ex-dividend date was Friday, November 21st. This represents a $0.25 annualized dividend and a dividend yield of 4.8%. Vaalco Energy’s payout ratio is currently 92.59%.

Hedge Funds Weigh In On Vaalco Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of EGY. Vanguard Group Inc. boosted its position in shares of Vaalco Energy by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock worth $28,517,000 after purchasing an additional 81,203 shares during the last quarter. American Century Companies Inc. lifted its stake in Vaalco Energy by 7.2% in the third quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock valued at $19,058,000 after buying an additional 316,570 shares during the period. Dimensional Fund Advisors LP lifted its stake in Vaalco Energy by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company’s stock valued at $15,001,000 after buying an additional 62,474 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in Vaalco Energy by 6.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 3,200,015 shares of the energy company’s stock worth $12,864,000 after buying an additional 197,549 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Vaalco Energy by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company’s stock worth $10,629,000 after buying an additional 162,023 shares during the period. 50.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Wall Street Zen raised Vaalco Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Finally, Loop Capital set a $7.30 price objective on Vaalco Energy in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Vaalco Energy presently 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 principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.