Eco (Atlantic) Oil & Gas (LON:ECO) Trading 13.1% Higher – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares were up 13.1% during trading on Tuesday . The company traded as high as GBX 62 and last traded at GBX 62. Approximately 4,352,454 shares traded hands during trading, an increase of 11% from the average daily volume of 3,925,951 shares. The stock had previously closed at GBX 54.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 125 target price on shares of Eco (Atlantic) Oil & Gas in a research note on Wednesday, March 11th. Canaccord Genuity Group boosted their price target on Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the company a “speculative buy” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 115.

Eco (Atlantic) Oil & Gas Trading Down 0.3%

The stock has a market cap of £212.13 million, a P/E ratio of -68.89 and a beta of 1.05. The company’s fifty day simple moving average is GBX 37.53 and its 200-day simple moving average is GBX 20.42.

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.