Canaccord Genuity Group Has Lowered Expectations for VAALCO Energy (LON:EGY) Stock Price

VAALCO Energy (LON:EGY) had its target price decreased by Canaccord Genuity Group from GBX 700 ($9.01) to GBX 685 ($8.81) in a report issued on Wednesday morning,London Stock Exchange reports. Canaccord Genuity Group currently has a buy rating on the stock.

VAALCO Energy Price Performance

EGY stock opened at GBX 462.50 ($5.95) on Wednesday. The company has a market cap of £479.80 million, a price-to-earnings ratio of 758.20 and a beta of 1.17. 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 business’s 50-day moving average is GBX 476.31 and its two-hundred day moving average is 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 Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be issued a $0.06 dividend. This represents a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, November 21st. VAALCO Energy’s payout ratio is 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.