Eco (Atlantic) Oil & Gas (LON:ECO) Trading 25.8% Higher – Still a Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares shot up 25.8% during trading on Wednesday . The stock traded as high as GBX 62 and last traded at GBX 61. 10,791,173 shares traded hands during trading, an increase of 170% from the average session volume of 3,992,390 shares. The stock had previously closed at GBX 48.50.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 125.

Eco (Atlantic) Oil & Gas Trading Up 25.8%

The firm has a market capitalization of £208.71 million, a price-to-earnings ratio of -67.78 and a beta of 1.05. The stock’s fifty day moving average price is GBX 35.48 and its two-hundred day moving average price is GBX 19.07.

Eco (Atlantic) Oil & Gas Company Profile

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.