VAALCO Energy (LON:EGY) Trading Down 1.6% - Here's Why

VAALCO Energy, Inc. (LON:EGY - Get Free Report) shares were down 1.6% during mid-day trading on Wednesday . The stock traded as low as GBX 455 ($5.78) and last traded at GBX 455 ($5.78). Approximately 1,614 shares were traded during trading, an increase of 5% from the average daily volume of 1,535 shares. The stock had previously closed at GBX 462.50 ($5.88).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their target price on shares of VAALCO Energy from GBX 700 ($8.89) to GBX 685 ($8.70) and set a "buy" rating for the company in a research report on Wednesday, November 13th.

VAALCO Energy Price Performance

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's 50 day simple moving average is GBX 469.11 and its two-hundred day simple moving average is GBX 488.12. The firm has a market capitalization of £431.56 million, a PE ratio of 745.90 and a beta of 1.17.

VAALCO Energy Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be paid a $0.06 dividend. This represents a dividend yield of 1.05%. The ex-dividend date is Thursday, November 21st. VAALCO Energy's dividend payout ratio (DPR) is presently 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.