Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Up 4.9% – Time to Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price rose 4.9% during mid-day trading on Thursday . The company traded as high as GBX 38.80 and last traded at GBX 38.80. Approximately 1,052,031 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 4,422,996 shares. The stock had previously closed at GBX 37.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 125.

Eco (Atlantic) Oil & Gas Stock Performance

The company has a market capitalization of £132.75 million, a price-to-earnings ratio of -43.11 and a beta of 1.95. The firm has a fifty day moving average price of GBX 29.66 and a 200-day moving average price of GBX 15.69.

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.