Eco (Atlantic) Oil & Gas (LON:ECO) Trading Up 14.2% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares rose 14.2% on Thursday . The company traded as high as GBX 37.50 and last traded at GBX 37. Approximately 20,427,107 shares changed hands during trading, an increase of 221% from the average daily volume of 6,369,754 shares. The stock had previously closed at GBX 32.40.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Eco (Atlantic) Oil & Gas has a consensus rating of “Buy” and a consensus price target of GBX 125.

Eco (Atlantic) Oil & Gas Trading Down 1.1%

The firm has a market capitalization of £115.37 million, a P/E ratio of -40.67 and a beta of 1.95. The business has a 50-day moving average of GBX 22.41 and a 200 day moving average of GBX 12.98.

About Eco (Atlantic) Oil & Gas

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.