Eco (Atlantic) Oil & Gas (LON:ECO) Trading Up 10.9% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price traded up 10.9% on Tuesday . The stock traded as high as GBX 25.50 and last traded at GBX 25.50. 4,842,402 shares were traded during trading, an increase of 280% from the average session volume of 1,275,426 shares. The stock had previously closed at GBX 23.

Wall Street Analyst Weigh In

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

Eco (Atlantic) Oil & Gas Stock Performance

The company has a market capitalization of £80.38 million, a price-to-earnings ratio of -28.33 and a beta of 1.95. The stock’s fifty day simple moving average is GBX 11.82 and its two-hundred day simple moving average is GBX 9.64.

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.