Canaccord Genuity Believes Vaalco Energy (NYSE: EGY) Won’t Stop Here

In a report issued on February 25, Charlie Sharp from Canaccord Genuity maintained a Buy rating on Vaalco Energy (EGYResearch Report), with a price target of p260.00. The company’s shares closed last Monday at $3.24, close to its 52-week high of $3.45.

According to, Sharp is a 5-star analyst with an average return of 28.7% and a 58.6% success rate. Sharp covers the Utilities sector, focusing on stocks such as Touchstone Exploration, Orca Exploration Group, and Transglobe Energy.

Currently, the analyst consensus on Vaalco Energy is a Moderate Buy with an average price target of $3.34.

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Based on Vaalco Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $20.96 million and net profit of $7.62 million. In comparison, last year the company earned revenue of $20.17 million and had a GAAP net loss of $3.92 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGY in relation to earlier this year.

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VAALCO Energy, Inc. engages in the acquisition, development, and production of crude oil. It operates through the following segments: Gabon, Equatorial Guinea; and Corporate and Other. The Gabon Segment focuses on the Offshore Gabon-Etame Marin Permit operation. The Equatorial Guinea segment deals with the Equatorial Guinea-Block P operation. The Corporate and Other segment consists of corporate and operations support costs. The company was founded by Virgil A. Walston and Charles Alcorn in 1985 and is headquartered in Houston, TX.