VAALCO Energy (LON:EGY) Shares Up 5.2% – Here’s Why

Shares of VAALCO Energy, Inc. (LON:EGY) were up 5.2% on Wednesday. The company traded as high as GBX 468 and last traded at GBX 468. Approximately 100 shares changed hands during trading, a decline of 92% from the average daily volume of 1,193 shares. The stock had previously closed at GBX 445.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Peel Hunt reiterated a “buy” rating and issued a GBX 611 price objective on shares of VAALCO Energy in a research report on Wednesday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a GBX 700 target price on shares of VAALCO Energy in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 620.33.

VAALCO Energy Stock Up 10.1%

The company has a debt-to-equity ratio of 17.57, a quick ratio of 0.74 and a current ratio of 1.19. The stock has a market cap of £492.30 million, a price-to-earnings ratio of -4.50 and a beta of 1.17. The firm’s 50-day simple moving average is GBX 450.96 and its two-hundred day simple moving average is GBX 419.42.

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.