VAALCO Energy (LON:EGY) Given New GBX 530 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised the price target for VAALCO Energy from GBX 525 to GBX 530, maintaining a "buy" rating, indicating a potential upside of 79.66% from the previous close.
• The current stock price of VAALCO Energy is GBX 295, with a 52-week low of GBX 255 and a high of GBX 506.50.
• VAALCO Energy operates in the West African region and holds a 31.1% interest in the Etame Marin block off the coast of Gabon, which has produced over 110 million barrels of crude oil.

VAALCO Energy (LON:EGY - Free Report) had its price target upped by Canaccord Genuity Group from GBX 525 ($7.13) to GBX 530 ($7.20) in a research report report published on Monday, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

VAALCO Energy Stock Performance

Shares of EGY traded down GBX 16 ($0.22) during trading hours on Monday, reaching GBX 264 ($3.59). 932 shares of the company's stock traded hands, compared to its average volume of 987. The firm has a market capitalization of £273.87 million, a price-to-earnings ratio of 432.79 and a beta of 1.17. The company has a debt-to-equity ratio of 17.57, a current ratio of 1.19 and a quick ratio of 0.74. VAALCO Energy has a twelve month low of GBX 255 ($3.46) and a twelve month high of GBX 506.50 ($6.88). The business's fifty day simple moving average is GBX 273.80 and its two-hundred day simple moving average is GBX 293.97.

VAALCO Energy Company Profile

VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region. The Company is an established operator within the region, holding a 31.1% working interest in the Etame Marin block, located offshore Gabon, which to date has produced over 110 MMBBL of crude oil and of which the Company holds operational control.