Kornitzer Capital Management Inc. KS Grows Position in Vaalco Energy Inc $EGY

by · The Cerbat Gem

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Vaalco Energy Inc (NYSE:EGY – Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,378,835 shares of the energy company’s stock after purchasing an additional 150,175 shares during the quarter. Kornitzer Capital Management Inc. KS owned 3.16% of Vaalco Energy worth $21,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Vaalco Energy in the 4th quarter worth $1,638,000. North Star Investment Management Corp. raised its position in shares of Vaalco Energy by 159.4% during the 1st quarter. North Star Investment Management Corp. now owns 275,000 shares of the energy company’s stock valued at $1,744,000 after buying an additional 169,000 shares in the last quarter. UBS Group AG lifted its holdings in shares of Vaalco Energy by 154.9% during the 4th quarter. UBS Group AG now owns 1,326,729 shares of the energy company’s stock worth $4,829,000 after acquiring an additional 806,283 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Vaalco Energy during the 4th quarter worth $56,000. Finally, Mutual Advisors LLC purchased a new position in Vaalco Energy in the fourth quarter worth $126,000. 50.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on EGY shares. Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings lowered Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut Vaalco Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.30.

Get Our Latest Analysis on EGY

Vaalco Energy Price Performance

Shares of EGY stock traded down $0.04 during trading hours on Friday, hitting $5.25. 1,048,878 shares of the company’s stock were exchanged, compared to its average volume of 1,503,270. The company has a market capitalization of $546.83 million, a PE ratio of -3.83 and a beta of 0.09. Vaalco Energy Inc has a 12-month low of $3.36 and a 12-month high of $6.72. The business’s 50 day simple moving average is $5.54 and its 200-day simple moving average is $5.26. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60.

Vaalco Energy (NYSE:EGY – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). Vaalco Energy had a negative net margin of 45.86% and a negative return on equity of 12.74%. The business had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $78.20 million. On average, equities research analysts anticipate that Vaalco Energy Inc will post 0.11 earnings per share for the current year.

Vaalco Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 22nd were paid a $0.0625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.25 annualized dividend and a yield of 4.8%. Vaalco Energy’s payout ratio is currently -18.25%.

About Vaalco Energy

(Free Report)

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.

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