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

VAALCO Energy (LON:EGY) had its target price lowered by Canaccord Genuity Group from GBX 700 ($8.82) to GBX 685 ($8.63) in a report released on Wednesday morning,London Stock Exchange reports. Canaccord Genuity Group currently has a buy rating on the stock.

VAALCO Energy Stock Performance

EGY stock opened at GBX 462.50 ($5.83) on Wednesday. VAALCO Energy has a 52 week low of GBX 330 ($4.16) and a 52 week high of GBX 590.11 ($7.44). 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’s 50-day simple moving average is GBX 474.86 and its 200 day simple moving average is GBX 492.88. The company has a market capitalization of £479.80 million, a PE ratio of 758.20 and a beta of 1.17.

VAALCO Energy Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.06 per share. This represents a dividend yield of 1.05%. The ex-dividend date is Thursday, November 21st. VAALCO Energy’s dividend payout ratio (DPR) is currently 3,114.75%.

About VAALCO Energy

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.