Franklin Resources Inc. Reduces Position in VAALCO Energy, Inc. (NYSE:EGY)

Franklin Resources Inc. trimmed its holdings in VAALCO Energy, Inc. (NYSE:EGY) by 42.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 467,631 shares of the energy company’s stock after selling 350,793 shares during the quarter. Franklin Resources Inc. owned about 0.45% of VAALCO Energy worth $2,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of VAALCO Energy during the second quarter valued at approximately $60,000. nVerses Capital LLC purchased a new stake in VAALCO Energy during the 3rd quarter valued at $60,000. Crestmont Private Wealth LLC bought a new position in shares of VAALCO Energy during the 3rd quarter valued at $63,000. Arkadios Wealth Advisors purchased a new position in shares of VAALCO Energy in the 2nd quarter worth $64,000. Finally, Zacks Investment Management grew its holdings in shares of VAALCO Energy by 19.6% in the third quarter. Zacks Investment Management now owns 15,419 shares of the energy company’s stock worth $89,000 after acquiring an additional 2,527 shares during the period. Institutional investors own 50.32% of the company’s stock.

VAALCO Energy Stock Performance

NYSE:EGY opened at $4.33 on Thursday. The stock has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $5.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34. VAALCO Energy, Inc. has a 52-week low of $4.03 and a 52-week high of $7.51. The firm has a market capitalization of $449.21 million, a PE ratio of 5.09 and a beta of 1.18.

VAALCO Energy (NYSE:EGY) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The business had revenue of $140.33 million during the quarter, compared to the consensus estimate of $128.64 million. VAALCO Energy had a return on equity of 15.63% and a net margin of 17.93%. During the same quarter in the previous year, the company earned $0.07 earnings per share. Analysts forecast that VAALCO Energy, Inc. will post 0.5 EPS for the current year.

VAALCO Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 5.77%. VAALCO Energy’s dividend payout ratio is 29.41%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of VAALCO Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th.

VAALCO Energy Profile

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.