VAALCO Energy (LON:EGY) Shares Down 12.8% - Should You Sell?

Key Points

• Shares fell 12.8% to GBX 410 on Wednesday on light trading (~1,000 shares, about 28% below average), after a prior close of GBX 470.
• Canaccord Genuity raised its target to GBX 570 and gave a "buy" rating; the stock has an average analyst rating of "Buy" with an average target of GBX 560 (two analysts).
• VAALCO is a Houston-based oil producer with a 31.1% working interest in the Etame Marin block offshore Gabon (over 110 MMBBL produced); market cap ~£427.5m and a negative P/E (-10.25) reflect its current earnings profile.

VAALCO Energy, Inc. (LON:EGY - Get Free Report)'s share price was down 12.8% on Wednesday . The stock traded as low as GBX 410 and last traded at GBX 410. Approximately 1,000 shares traded hands during trading, a decline of 28% from the average daily volume of 1,390 shares. The stock had previously closed at GBX 470.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their target price on VAALCO Energy from GBX 555 to GBX 570 and gave the stock a "buy" rating in a report on Thursday, March 5th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of GBX 560.

VAALCO Energy Stock Down 12.8%

The stock has a market capitalization of £427.46 million, a price-to-earnings ratio of -10.25 and a beta of 1.17. The business has a fifty day moving average of GBX 400.73 and a 200 day moving average of GBX 328.53. The company has a debt-to-equity ratio of 17.57, a current ratio of 1.19 and a quick ratio of 0.74.

About VAALCO Energy

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.

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