VAALCO Energy (LON:EGY) Stock Price Up 5.2% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EGY. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 700 target price on shares of VAALCO Energy in a research note on Monday, August 10th. Peel Hunt reaffirmed a “buy” rating and set a GBX 611 price target on shares of VAALCO Energy in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 620.33.

VAALCO Energy Stock Performance

The firm’s 50-day moving average price is GBX 450.96 and its 200 day moving average price is GBX 419.42. 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 company has a market cap of £492.30 million, a price-to-earnings ratio of -4.50 and a beta of 1.17.

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.