Eco (Atlantic) Oil & Gas (LON:ECO) Trading 8.1% Higher – Still a Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shot up 8.1% on Monday . The stock 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 daily volume of 2,729,259 shares. The stock had previously closed at GBX 45.80.

Wall Street Analyst Weigh In

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

Eco (Atlantic) Oil & Gas Price Performance

The company’s fifty day moving average is GBX 58.03 and its 200-day moving average is GBX 45.81. The stock has a market cap of £172.86 million, a PE ratio of -165.00 and a beta of 0.98.

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.