Lekoil (LEK) Reaches New 1-Year Low on Analyst Downgrade
Lekoil Ltd (LON:LEK) hit a new 52-week low on Wednesday after Numis Securities lowered their price target on the stock from GBX 40 to GBX 22. Numis Securities currently has a buy rating on the stock. Lekoil traded as low as GBX 6.30 ($0.08) and last traded at GBX 6.39 ($0.08), with a volume of 1447842 shares. The stock had previously closed at GBX 6.75 ($0.09).
The company has a debt-to-equity ratio of 12.35, a current ratio of 1.21 and a quick ratio of 0.47. The firm has a market capitalization of $34.28 million and a price-to-earnings ratio of 1.78.
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Lekoil Limited explores for, develops, and produces petroleum oil and natural gas in Nigeria, Namibia, Cayman, and internationally. The company owns a 40% interest in the Otakikpo marginal field located in the south-eastern part of the Niger Delta; and a 40% interest in the OPL 310 block located in the Upper Cretaceous fairway that runs along the West African Transform Margin.
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