Eland Oil & Gas (LON:ELA)‘s stock had its “buy” rating restated by equities researchers at Peel Hunt in a note issued to investors on Monday. They currently have a GBX 160 ($2.09) price target on the stock. Peel Hunt’s price target points to a potential upside of 28.51% from the company’s previous close.

Separately, Canaccord Genuity reaffirmed a “buy” rating and issued a GBX 165 ($2.16) target price on shares of Eland Oil & Gas in a research report on Monday, November 12th.

ELA opened at GBX 124.50 ($1.63) on Monday. Eland Oil & Gas has a 1 year low of GBX 44.30 ($0.58) and a 1 year high of GBX 91.62 ($1.20).

In related news, insider Ronald Bain bought 17,500 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average price of GBX 109 ($1.42) per share, with a total value of £19,075 ($24,924.87).

Eland Oil & Gas Company Profile

Eland Oil & Gas PLC, together with its subsidiaries, engages in development, exploration, and production of oil and gas properties in West Africa. The company primarily holds interests in the OML 40 license, which covers an area of 498 square kilometers located in the Niger Delta; and a 40% interest in the Ubima field that covers an area of 65 square kilometers located in the northern part of Rivers State.

Further Reading: Reverse Stock Split

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