Eco (Atlantic) Oil & Gas (LON:ECO) Trading Up 3.6% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO – Get Free Report) shares were up 3.6% during trading on Monday . The stock traded as high as GBX 58.80 and last traded at GBX 57.80. Approximately 1,012,546 shares traded hands during trading, a decline of 59% from the average session volume of 2,498,064 shares. The stock had previously closed at GBX 55.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ECO shares. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 128 price target on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, June 18th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 126.50.

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Eco (Atlantic) Oil & Gas Trading Up 3.6%

The stock’s 50-day moving average price is GBX 54.89 and its 200-day moving average price is GBX 49.45. The stock has a market cap of £202.13 million, a price-to-earnings ratio of -192.67 and a beta of 0.96.

About Eco (Atlantic) Oil & Gas

(Get Free Report)

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.

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