VAALCO Energy (LON:EGY) Reaches New 1-Year High – Here’s What Happened

Shares of VAALCO Energy, Inc. (LON:EGY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 369.40 and last traded at GBX 369.40, with a volume of 500 shares trading hands. The stock had previously closed at GBX 340.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective 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.com, the stock presently has an average rating of “Buy” and an average price target of GBX 540.

VAALCO Energy Stock Up 8.6%

The firm has a 50 day simple moving average of GBX 282.18 and a 200-day simple moving average of GBX 287.62. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 17.57. The stock has a market cap of £385.13 million, a P/E ratio of 13.68 and a beta of 1.17.

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.