Eco (Atlantic) Oil & Gas (LON:ECO) Trading 13.1% Higher – Still a Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) rose 13.1% during trading on Tuesday . The company traded as high as GBX 62 and last traded at GBX 62. Approximately 4,352,454 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 3,925,951 shares. The stock had previously closed at GBX 54.80.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ECO shares. Berenberg Bank reiterated a “buy” rating and set a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Wednesday, March 11th. Canaccord Genuity Group upped their price objective on shares of Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the stock a “speculative buy” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Eco (Atlantic) Oil & Gas has a consensus rating of “Buy” and a consensus price target of GBX 115.

Eco (Atlantic) Oil & Gas Price Performance

The stock has a 50 day moving average price of GBX 38.86 and a two-hundred day moving average price of GBX 21.08. The firm has a market capitalization of £204.60 million, a price-to-earnings ratio of -66.44 and a beta of 1.05.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.

Eco has interests in Guyana, South Africa and Namibia, proven jurisdictions with great hydrocarbon potential, and aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in these stable emerging markets, in partnership with major oil companies.