VAALCO Energy, Inc. (NYSE:EGY) Short Interest Up 9.7% in November

VAALCO Energy, Inc. (NYSE:EGY) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 4,310,000 shares, a growth of 9.7% from the October 31st total of 3,930,000 shares. Based on an average daily volume of 885,200 shares, the days-to-cover ratio is currently 4.9 days.

VAALCO Energy Stock Performance

Shares of EGY stock traded up $0.03 on Monday, reaching $5.15. The stock had a trading volume of 973,431 shares, compared to its average volume of 981,670. VAALCO Energy has a 12 month low of $4.03 and a 12 month high of $7.51. The firm has a market capitalization of $534.26 million, a price-to-earnings ratio of 6.06 and a beta of 1.19. The firm’s 50-day moving average is $5.63 and its two-hundred day moving average is $6.07. The company has a quick ratio of 1.32, a current ratio of 1.34 and a debt-to-equity ratio of 0.14.

VAALCO Energy (NYSE:EGY) last posted its earnings results on Monday, November 11th. The energy company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.04). VAALCO Energy had a net margin of 17.93% and a return on equity of 15.63%. The firm had revenue of $140.33 million during the quarter, compared to analyst estimates of $128.64 million. During the same period in the previous year, the company posted $0.07 EPS. On average, research analysts expect that VAALCO Energy will post 0.5 EPS for the current fiscal year.

VAALCO Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 22nd will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, November 22nd. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Trading of VAALCO Energy

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of VAALCO Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,024,145 shares of the energy company’s stock worth $41,988,000 after purchasing an additional 124,853 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of VAALCO Energy by 5.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 2,538,955 shares of the energy company’s stock valued at $14,574,000 after buying an additional 121,005 shares during the last quarter. Foundry Partners LLC increased its stake in VAALCO Energy by 156.8% in the 3rd quarter. Foundry Partners LLC now owns 1,200,474 shares of the energy company’s stock valued at $6,891,000 after buying an additional 733,084 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of VAALCO Energy during the 3rd quarter worth $818,000. Finally, Cornercap Investment Counsel Inc. lifted its stake in VAALCO Energy by 116.5% in the second quarter. Cornercap Investment Counsel Inc. now owns 176,179 shares of the energy company’s stock valued at $1,105,000 after purchasing an additional 94,806 shares during the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of VAALCO Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

About VAALCO Energy

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.