Jeffrey E. Eberwein‘s Lone Star Value Management has reported a new position in VAALCO Energy Inc (NYSE:EGY) via a recent 13D filing with the US Securities and Exchange Commission. The stake contains 3.75 million shares of VAALCO, which represent 6.4% of the outstanding stock.
VAALCO Energy Inc (NYSE:EGY) is an independent energy company that is involved in the acquisition, exploration and production of crude oil and natural gas. It owns properties in West Africa and operates unconventional resource properties in the US. The stock lost half of its value over the last 52 weeks as the drop in oil prices put pressure on it. VAALCO Energy is expected to release its financial results for the last quarter on Thursday and analysts expect a net loss of $0.09 per share on revenue of $11.66 million, which would represent a 36% decline year-over-year. In March, National Securities cut its price target on VAALCO Energy’s stock to $2.00, maintaining the ‘Neutral’ rating.
Overall, seven funds among those we track reported long positions in VAALCO Energy Inc (NYSE:EGY) as of the end of 2015. Billionaire David E. Shaw’s D E Shaw held the largest stake, that was worth close to $900,000, followed by Renaissance Technologies, managed by Jim Simons, which reported a $400,000 position. Remaining members of the smart money that are bullish consist of Cliff Asness’ AQR Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|LONE STAR VALUE INVESTORS||3,300,000||0||3,300,000||0||3,300,000||5.6%|
|LONE STAR VALUE INVESTORS GP||3,300,000||3,300,000||3,300,000||5.6%|
|LONE STAR VALUE MANAGEMENT||3,750,000||3,750,000||3,750,000||6.4%|
|JEFFREY E. EBERWEIN||3,750,000||3,750,000||3,750,000||6.4%|