VAALCO Energy, Inc. (NYSE:EGY) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 356,500 shares, a growth of 14.2% from the January 15th total of 312,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 206,000 shares, the days-to-cover ratio is currently 1.7 days.
Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of VAALCO Energy in the 4th quarter valued at approximately $29,000. Advisory Services Network LLC purchased a new position in shares of VAALCO Energy in the 4th quarter valued at approximately $57,000. Virtu Financial LLC purchased a new position in shares of VAALCO Energy in the 4th quarter valued at approximately $75,000. State Street Corp raised its position in shares of VAALCO Energy by 28.9% in the 4th quarter. State Street Corp now owns 35,518 shares of the energy company’s stock valued at $79,000 after purchasing an additional 7,960 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of VAALCO Energy by 1,007.1% in the 3rd quarter. Millennium Management LLC now owns 64,406 shares of the energy company’s stock valued at $130,000 after purchasing an additional 71,506 shares during the last quarter. 43.74% of the stock is owned by hedge funds and other institutional investors.
Shares of VAALCO Energy stock traded down $0.04 during midday trading on Friday, hitting $2.07. The company had a trading volume of 122,700 shares, compared to its average volume of 186,803. The stock has a market cap of $124.07 million, a price-to-earnings ratio of 10.90 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.00. VAALCO Energy has a 12-month low of $1.40 and a 12-month high of $2.75.
EGY has been the subject of several research analyst reports. Canaccord Genuity initiated coverage on shares of VAALCO Energy in a research report on Friday, October 18th. They issued a “buy” rating and a $2.70 price objective for the company. Zacks Investment Research raised shares of VAALCO Energy from a “sell” rating to a “hold” rating in a research report on Monday, December 23rd.
About VAALCO Energy
VAALCO Energy, Inc, an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas. The company holds Etame production sharing contract related to the Etame Marin block located offshore the Republic of Gabon in West Africa. It also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa.
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