Canaccord Genuity Group Forecasts Strong Price Appreciation for VAALCO Energy (LON:EGY) Stock

VAALCO Energy (LON:EGY) had its price objective boosted by investment analysts at Canaccord Genuity Group from GBX 555 to GBX 570 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 55.74% from the stock’s previous close.

Separately, Jefferies Financial Group upped their target price on shares of VAALCO Energy from GBX 530 to GBX 550 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, VAALCO Energy currently has a consensus rating of “Buy” and an average price target of GBX 560.

VAALCO Energy Price Performance

EGY stock opened at GBX 366 on Thursday. 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 firm has a market capitalization of £381.58 million, a P/E ratio of 13.56 and a beta of 1.17. The business’s 50-day moving average is GBX 334.36 and its two-hundred day moving average is GBX 304.12. VAALCO Energy has a 1 year low of GBX 250.60 and a 1 year high of GBX 387.

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.