Eland Oil & Gas PLC Announces Dividend of GBX 1 (LON:ELA)

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Eland Oil & Gas PLC (LON:ELA) announced a dividend on Wednesday, September 11th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, October 17th will be given a dividend of GBX 1 ($0.01) per share on Thursday, October 31st. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 17th. The official announcement can be seen at this link.

Shares of Eland Oil & Gas stock traded up GBX 1.80 ($0.02) on Thursday, hitting GBX 130.80 ($1.71). 2,702,959 shares of the company traded hands, compared to its average volume of 153,615. The firm’s 50-day simple moving average is GBX 121.73 and its 200 day simple moving average is GBX 124.39. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 15.05. The company has a market cap of $278.59 million and a P/E ratio of 5.03. Eland Oil & Gas has a 12-month low of GBX 94.60 ($1.24) and a 12-month high of GBX 135 ($1.76).

Several research firms have recently weighed in on ELA. Peel Hunt restated a “buy” rating and set a GBX 174 ($2.27) price objective (down previously from GBX 176 ($2.30)) on shares of Eland Oil & Gas in a research report on Monday. Peel Hunt restated a “buy” rating and set a GBX 193 ($2.52) price objective on shares of Eland Oil & Gas in a research report on Tuesday, June 25th.

In other Eland Oil & Gas news, insider George Walter Mitchell Maxwell purchased 8,345 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was bought at an average cost of GBX 120 ($1.57) per share, with a total value of £10,014 ($13,085.06).

About Eland Oil & Gas

Eland Oil & Gas PLC, together with its subsidiaries, engages in development, exploration, and production of oil and gas properties in West Africa. The company primarily holds interests in the OML 40 license, which covers an area of 498 square kilometers located in the Niger Delta; and a 40% interest in the Ubima field that covers an area of 65 square kilometers located in the northern part of Rivers State.

Read More: Dividend Reinvestment Plan (DRIP)

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