Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Down 3% – Should You Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO – Get Free Report) traded down 3% during mid-day trading on Wednesday . The stock traded as low as GBX 50.60 and last traded at GBX 51.20. 4,254,283 shares changed hands during trading, an increase of 43% from the average session volume of 2,967,469 shares. The stock had previously closed at GBX 52.80.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Berenberg Bank restated a “buy” rating and set a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a research note on Wednesday, May 20th. Canaccord Genuity Group upped their price objective on Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the company a “speculative buy” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 115.

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Eco (Atlantic) Oil & Gas Trading Down 3.0%

The business has a 50-day moving average price of GBX 60.17 and a two-hundred day moving average price of GBX 42.39. The firm has a market capitalization of £178.80 million, a price-to-earnings ratio of -170.67 and a beta of 0.99.

Eco (Atlantic) Oil & Gas Company Profile

(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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