VAALCO Energy (LON:EGY) Stock Price Up 4.1% - Should You Buy?

Key Points

• VAALCO Energy's stock price increased by 4.1% on Monday, closing at GBX 302 ($4.09), with trading volume up by 152% from its average daily volume.
• Canaccord Genuity Group raised their price target for VAALCO from GBX 525 to GBX 530, maintaining a "buy" rating, while the stock has a consensus rating of "buy" with an average target of GBX 607.50.
• The company holds a 31.1% working interest in the Etame Marin block in Gabon, which has produced over 110 MMBBL of crude oil.

VAALCO Energy, Inc. (LON:EGY - Get Free Report)'s stock price was up 4.1% during mid-day trading on Monday . The company traded as high as GBX 302 ($4.08) and last traded at GBX 302 ($4.08). Approximately 2,483 shares traded hands during mid-day trading, an increase of 152% from the average daily volume of 987 shares. The stock had previously closed at GBX 290 ($3.92).

Wall Street Analysts Forecast Growth

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

VAALCO Energy Price Performance

The company has a debt-to-equity ratio of 17.57, a current ratio of 1.19 and a quick ratio of 0.74. The stock's 50 day moving average price is GBX 279.56 and its two-hundred day moving average price is GBX 285.99. The firm has a market capitalization of £302.35 million, a price-to-earnings ratio of 783.78 and a beta of 1.17.

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.