Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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

Because VAALCO Energy, Inc. (NYSE:EGY) has faced a bearish sentiment from hedge fund managers, we can see that there lies a certain “tier” of money managers who were dropping their full holdings by the end of the third quarter. At the top of the heap, Paul Marshall and Ian Wace’s Marshall Wace LLP dumped the largest stake of the “upper crust” of funds watched by Insider Monkey, comprising about $0.1 million in stock. Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s fund, GRT Capital Partners, also dropped its stock, about $0.1 million worth of shares. These bearish behaviors are important to note, as total hedge fund interest fell by 6 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to VAALCO Energy, Inc. (NYSE:EGY). These stocks are ReneSola Ltd. (ADR) (NYSE:SOL), Neonode, Inc (NASDAQ:NEON), Mitek Systems, Inc. (NASDAQ:MITK), and Calithera Biosciences Inc (NASDAQ:CALA). This group of stocks’ market caps are similar to VAALCO Energy, Inc. (NYSE:EGY)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SOL 4 5334 0
NEON 6 3213 -1
MITK 6 1962 -1
CALA 5 21817 -1

As you can see, these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $8 million. That figure was $3 million in VAALCO Energy, Inc. (NYSE:EGY)’s case. Neonode, Inc (NASDAQ:NEON) is the most popular stock in this table. On the other hand, ReneSola Ltd. (ADR) (NYSE:SOL) 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.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...