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

VAALCO Energy (LON:EGY) had its price objective lowered by Canaccord Genuity Group from GBX 660 ($8.59) to GBX 565 ($7.35) in a research report released on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

VAALCO Energy Price Performance

Shares of EGY opened at GBX 310 ($4.03) on Monday. VAALCO Energy has a 52 week low of GBX 285.81 ($3.72) and a 52 week high of GBX 590.11 ($7.68). The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 17.57. The company has a market capitalization of £321.59 million, a price-to-earnings ratio of 508.20 and a beta of 1.17. The stock’s 50-day moving average price is GBX 340.58 and its 200-day moving average price is GBX 416.89.

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.