Canaccord Genuity Group Issues Pessimistic Forecast for VAALCO Energy (LON:EGY) Stock Price

VAALCO Energy (LON:EGY) had its price objective decreased by Canaccord Genuity Group from GBX 700 ($9.01) to GBX 685 ($8.81) in a report released on Wednesday,London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 48.11% from the company’s current price.

VAALCO Energy Price Performance

VAALCO Energy stock remained flat at GBX 462.50 ($5.95) during mid-day trading on Wednesday. The company has a market cap of £479.80 million, a P/E ratio of 758.20 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. The stock has a 50 day moving average of GBX 476.31 and a 200-day moving average of GBX 494.10. VAALCO Energy has a fifty-two week low of GBX 330 ($4.25) and a fifty-two week high of GBX 590.11 ($7.59).

VAALCO Energy Company Profile

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.