Perritt Capital Management Inc. Cuts Stake in VAALCO Energy, Inc. (NYSE:EGY)

Perritt Capital Management Inc. reduced its stake in shares of VAALCO Energy, Inc. (NYSE:EGY) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,051 shares of the energy company’s stock after selling 3,332 shares during the period. Perritt Capital Management Inc. owned 0.15% of VAALCO Energy worth $705,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in VAALCO Energy in the third quarter valued at approximately $38,000. Simplicity Solutions LLC purchased a new position in VAALCO Energy in the fourth quarter valued at approximately $52,000. Bleakley Financial Group LLC purchased a new position in VAALCO Energy in the fourth quarter valued at approximately $52,000. Navellier & Associates Inc. purchased a new position in VAALCO Energy in the third quarter valued at approximately $67,000. Finally, Principal Financial Group Inc. raised its holdings in VAALCO Energy by 34.7% in the third quarter. Principal Financial Group Inc. now owns 15,609 shares of the energy company’s stock valued at $69,000 after buying an additional 4,020 shares during the period. 50.32% of the stock is currently owned by hedge funds and other institutional investors.

VAALCO Energy Stock Down 4.5 %

Shares of NYSE:EGY opened at $6.10 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.66 and a debt-to-equity ratio of 0.16. VAALCO Energy, Inc. has a 52-week low of $3.55 and a 52-week high of $7.51. The company has a 50 day moving average of $6.37 and a two-hundred day moving average of $5.35. The company has a market capitalization of $631.11 million, a price-to-earnings ratio of 10.17 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last issued its quarterly earnings data on Tuesday, May 7th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. VAALCO Energy had a net margin of 13.60% and a return on equity of 14.04%. The company had revenue of $100.16 million during the quarter, compared to the consensus estimate of $91.23 million. As a group, analysts forecast that VAALCO Energy, Inc. will post 0.47 earnings per share for the current fiscal year.

VAALCO Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 17th will be given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, May 16th. VAALCO Energy’s payout ratio is currently 41.67%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com lowered shares of VAALCO Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Roth Mkm increased their price objective on shares of VAALCO Energy from $7.25 to $8.00 and gave the company a “buy” rating in a research report on Tuesday.

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.