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

Eco (Atlantic) Oil & Gas (LON:ECO)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a research note issued on Wednesday,Digital Look reports. They currently have a GBX 125 target price on the stock. Berenberg Bank’s target price suggests a potential upside of 94.10% from the stock’s previous close.

Separately, Canaccord Genuity Group lifted their price target on Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the stock a “speculative buy” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Eco (Atlantic) Oil & Gas has a consensus rating of “Buy” and a consensus target price of GBX 115.

Eco (Atlantic) Oil & Gas Stock Up 7.3%

Shares of LON ECO opened at GBX 64.40 on Wednesday. The business’s 50 day moving average is GBX 58.95 and its two-hundred day moving average is GBX 36.56. The company has a market cap of £224.31 million, a P/E ratio of -214.67 and a beta of 0.99. Eco has a 12 month low of GBX 6.79 and a 12 month high of GBX 71.

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.