Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 14.1% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price shot up 14.1% during trading on Friday . The company traded as high as GBX 10.98 ($0.14) and last traded at GBX 10.90 ($0.14). 1,397,840 shares changed hands during trading, an increase of 56% from the average session volume of 897,715 shares. The stock had previously closed at GBX 9.55 ($0.12).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 125 ($1.62) price objective on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Trading Up 8.4 %

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.68 and a quick ratio of 4.71. The stock has a market capitalization of £38.31 million, a price-to-earnings ratio of -258.75 and a beta of 1.95. The business has a 50 day simple moving average of GBX 11.11 and a 200-day simple moving average of GBX 11.85.

Eco (Atlantic) Oil & Gas Company Profile

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.