Eco (Atlantic) Oil & Gas (LON:ECO) Receives “Buy” Rating from Berenberg Bank

Eco (Atlantic) Oil & Gas (LON:ECO)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 125 price target on the stock. Berenberg Bank’s price target suggests a potential upside of 132.34% from the stock’s current price.

Eco (Atlantic) Oil & Gas Price Performance

Shares of ECO traded up GBX 5.30 during trading hours on Wednesday, hitting GBX 53.80. 10,312,976 shares of the stock were exchanged, compared to its average volume of 3,982,631. Eco has a fifty-two week low of GBX 6.79 and a fifty-two week high of GBX 62. The business has a 50-day moving average of GBX 35.48 and a 200-day moving average of GBX 19.07. The firm has a market capitalization of £184.07 million, a P/E ratio of -59.78 and a beta of 1.05.

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.