Canaccord Genuity Group Cuts VAALCO Energy (LON:EGY) Price Target to GBX 565

VAALCO Energy (LON:EGY) had its target price dropped by analysts at Canaccord Genuity Group from GBX 660 ($8.53) to GBX 565 ($7.30) in a note issued to investors on Monday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 82.26% from the company’s current price.

VAALCO Energy Stock Performance

Shares of LON:EGY remained flat at GBX 310 ($4.01) during midday trading on Monday. The stock’s 50-day simple moving average is GBX 346.28 and its 200-day simple moving average is GBX 420.34. VAALCO Energy has a 52 week low of GBX 285.81 ($3.69) and a 52 week high of GBX 590.11 ($7.63). 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 has a market cap of £321.59 million, a PE ratio of 508.20 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.