Vaalco Energy Inc (NYSE:EGY) Short Interest Up 21.6% in March

Vaalco Energy Inc (NYSE:EGY) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 4,121,908 shares, an increase of 21.6% from the February 26th total of 3,390,110 shares. Based on an average daily volume of 1,853,710 shares, the days-to-cover ratio is presently 2.2 days. Currently, 4.0% of the company’s stock are short sold.

Analysts Set New Price Targets

EGY has been the topic of several recent research reports. Wall Street Zen upgraded Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Weiss Ratings upgraded Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. Loop Capital set a $7.30 target price on Vaalco Energy in a report on Friday, January 16th. Finally, Zacks Research cut Vaalco Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $7.30.

Institutional Investors Weigh In On Vaalco Energy

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Vaalco Energy by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after purchasing an additional 81,203 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 worth $19,058,000 after buying an additional 316,570 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Vaalco Energy by 1.7% during 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 grew its position in Vaalco Energy by 0.9% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,228,660 shares of the energy company’s stock valued at $11,752,000 after buying an additional 28,645 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Vaalco Energy by 5.8% during the second quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company’s stock valued at $10,629,000 after buying an additional 162,023 shares during the last quarter. 50.32% of the stock is currently owned by institutional investors.

Vaalco Energy Price Performance

Shares of EGY opened at $6.10 on Thursday. The company has a market capitalization of $635.46 million, a P/E ratio of -15.24 and a beta of 0.19. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $5.34 and a 200 day moving average of $4.34. Vaalco Energy has a twelve month low of $3.00 and a twelve month high of $6.72.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings data on Thursday, March 12th. The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Vaalco Energy had a negative net margin of 11.52% and a negative return on equity of 0.81%. The business had revenue of $91.04 million during the quarter, compared to the consensus estimate of $76.30 million. As a group, equities research analysts anticipate that Vaalco Energy will post 0.43 earnings per share for the current fiscal year.

Vaalco Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, February 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, February 27th. Vaalco Energy’s dividend payout ratio is presently -62.50%.

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.