Eco (Atlantic) Oil & Gas (LON:ECO) Trading 25.8% Higher – Still a Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares shot up 25.8% during trading on Wednesday . The company traded as high as GBX 62 and last traded at GBX 61. 10,791,173 shares were traded during mid-day trading, an increase of 170% from the average session volume of 3,992,390 shares. The stock had previously closed at GBX 48.50.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and set 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 125.

Eco (Atlantic) Oil & Gas Stock Performance

The stock’s 50-day moving average is GBX 35.48 and its 200 day moving average is GBX 19.07. The stock has a market capitalization of £208.71 million, a PE ratio of -67.78 and a beta of 1.05.

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.