VAALCO Energy (LON:EGY) Stock Price Up 0.6% - Still a Buy?

Key Points

• VAALCO Energy's stock price increased by 0.6% to GBX 312 ($4.21) amid lower trading volume, with just 316 shares changing hands.
• Analysts from Canaccord Genuity raised their price target to GBX 530 and maintain a "buy" rating, contributing to an average consensus price target of GBX 607.50.
• VAALCO holds a 31.1% working interest in the Etame Marin block off the coast of Gabon, having produced over 110 million barrels of crude oil to date.

VAALCO Energy, Inc. (LON:EGY - Get Free Report) shares rose 0.6% during mid-day trading on Monday . The stock traded as high as GBX 312 ($4.21) and last traded at GBX 312 ($4.21). Approximately 316 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 987 shares. The stock had previously closed at GBX 310 ($4.18).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price target on shares of VAALCO Energy from GBX 525 to GBX 530 and gave the stock a "buy" rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of GBX 607.50.

VAALCO Energy Stock Up 0.6%

The stock's 50-day moving average is GBX 291.52 and its 200-day moving average is GBX 284.11. The stock has a market cap of £325.28 million, a P/E ratio of 843.24 and a beta of 1.17. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 17.57.

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.

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