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

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

VAALCO Energy Price Performance

EGY stock remained flat at GBX 310 ($4.01) during mid-day trading on Monday. The company has a market cap of £321.59 million, a PE ratio of 508.20 and a beta of 1.17. VAALCO Energy has a 12 month low of GBX 285.81 ($3.69) and a 12 month high of GBX 590.11 ($7.63). The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 17.57. The stock’s fifty day moving average is GBX 346.28 and its two-hundred day moving average is GBX 420.34.

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.