Eland Oil & Gas’ (ELA) “Buy” Rating Reiterated at Peel Hunt

Peel Hunt reiterated their buy rating on shares of Eland Oil & Gas (LON:ELA) in a research note issued to investors on Monday, ThisIsMoney.Co.Uk reports. Peel Hunt currently has a GBX 174 ($2.27) price target on the stock, down from their previous price target of GBX 176 ($2.30).

Separately, Peel Hunt restated a buy rating and issued a GBX 193 ($2.52) target price on shares of Eland Oil & Gas in a research note on Tuesday, June 25th.

ELA opened at GBX 131 ($1.71) on Monday. The stock has a market cap of $282.91 million and a PE ratio of 5.04. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 15.05. The business has a 50 day moving average of GBX 121.73 and a 200-day moving average of GBX 124.39. Eland Oil & Gas has a 52 week low of GBX 94.60 ($1.24) and a 52 week high of GBX 135 ($1.76).

The company also recently announced a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a GBX 1 ($0.01) dividend. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 17th.

In other news, insider George Walter Mitchell Maxwell bought 8,345 shares of the stock in a transaction dated Tuesday, June 25th. The stock was bought at an average price of GBX 120 ($1.57) per share, for a total transaction of £10,014 ($13,085.06).

Eland Oil & Gas Company Profile

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.

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