Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 8.1% – Should You Buy?

Shares of Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shot up 8.1% during trading on Monday . The company traded as high as GBX 51.53 and last traded at GBX 49.50. Approximately 931,452 shares changed hands during trading, a decline of 66% from the average session volume of 2,729,259 shares. The stock had previously closed at GBX 45.80.

Analyst Ratings Changes

Several brokerages recently weighed in on ECO. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 128 target price on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, June 18th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Eco (Atlantic) Oil & Gas has a consensus rating of “Buy” and a consensus target price of GBX 126.50.

Eco (Atlantic) Oil & Gas Stock Down 4.6%

The business’s 50 day simple moving average is GBX 57.40 and its 200 day simple moving average is GBX 46.24. The company has a market capitalization of £169.91 million, a PE ratio of -162.18 and a beta of 0.98.

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.