Is VAALCO Energy, Inc. (EGY) A Good Stock To Buy?

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Now, some big names have been driving this bullishness. GRT Capital Partners, led by Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk, established the biggest position in VAALCO Energy, Inc. (NYSE:EGY). GRT Capital Partners had $0.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.1 million position during the quarter. The following funds were also among the new EGY investors: Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital and Chao Ku’s Nine Chapters Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as VAALCO Energy, Inc. (NYSE:EGY) but similarly valued. We will take a look at Christopher & Banks Corporation (NYSE:CBK), ParkerVision, Inc. (NASDAQ:PRKR), Palatin Technologies, Inc. (NYSEAMEX:PTN), and Innovative Solutions & Support Inc (NASDAQ:ISSC). This group of stocks’ market values match EGY’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CBK 5 3455 -3
PRKR 4 3630 0
PTN 4 3356 0
ISSC 4 2044 -1

As you can see these stocks had an average of 4.25 hedge funds with bullish positions and the average amount invested in these stocks was $3 million. That figure was $5 million in EGY’s case. Christopher & Banks Corporation (NYSE:CBK) is the most popular stock in this table. On the other hand ParkerVision, Inc. (NASDAQ:PRKR) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks VAALCO Energy, Inc. (NYSE:EGY) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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