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 stock analysts at Berenberg Bank in a note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 125 price target on the stock. Berenberg Bank’s price target would suggest a potential upside of 94.10% from the stock’s previous close.

Separately, Canaccord Genuity Group upped 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 report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 115.

Eco (Atlantic) Oil & Gas Trading Up 7.3%

ECO opened at GBX 64.40 on Wednesday. The stock has a market cap of £224.31 million, a PE ratio of -214.67 and a beta of 0.99. Eco has a 1 year low of GBX 6.79 and a 1 year high of GBX 71. The stock’s 50 day simple moving average is GBX 58.95 and its 200-day simple moving average is GBX 36.56.

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.