Eco (Atlantic) Oil & Gas (LON:ECO) Stock Falls 9% – Should You Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price fell 9% during trading on Friday. The company traded as low as GBX 30.90 and last traded at GBX 32.20. Approximately 3,396,585 shares traded hands during trading, an increase of 64% from the average session volume of 2,074,903 shares. The stock had previously closed at GBX 35.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ECO. Berenberg Bank restated a “buy” rating and issued a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Tuesday, September 22nd. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 128 target price on shares of Eco (Atlantic) Oil & Gas in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 126.50.

Eco (Atlantic) Oil & Gas Price Performance

The stock has a market cap of £112.61 million, a P/E ratio of -14.00 and a beta of 0.95. The business’s fifty day moving average price is GBX 46.05 and its 200 day moving average price is GBX 53.15.

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.