Eco (Atlantic) Oil & Gas (LON:ECO) Stock Jumps 16.5% – What’s Next?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares shot up 16.5% during trading on Tuesday. The stock traded as high as GBX 41 and last traded at GBX 39.60. Approximately 3,271,056 shares were traded during trading, an increase of 57% from the average session volume of 2,083,774 shares. The stock had previously closed at GBX 34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ECO shares. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 128 price objective on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, June 18th. Berenberg Bank reissued a “buy” rating and set a GBX 125 target price on shares of Eco (Atlantic) Oil & Gas in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 126.50.

Eco (Atlantic) Oil & Gas Price Performance

The company’s 50 day moving average price is GBX 45.15 and its 200 day moving average price is GBX 52.84. The firm has a market cap of £138.48 million, a PE ratio of -17.22 and a beta of 0.95.

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.