Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Up 8.1% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price rose 8.1% during trading on Monday . The company traded as high as GBX 51.53 and last traded at GBX 49.50. 931,452 shares were traded during trading, a decline of 66% from the average session volume of 2,729,259 shares. The stock had previously closed at GBX 45.80.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 125 target price on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, May 20th. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 128 target price on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 126.50.

Eco (Atlantic) Oil & Gas Trading Up 8.1%

The stock has a market capitalization of £172.86 million, a price-to-earnings ratio of -165.00 and a beta of 0.98. The firm’s fifty day moving average price is GBX 58.03 and its 200 day moving average price is GBX 45.81.

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.