Eco (Atlantic) Oil & Gas (LON:ECO) Trading 3.6% Higher – Should You Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shot up 3.6% on Monday . The stock traded as high as GBX 58.80 and last traded at GBX 57.80. Approximately 1,012,546 shares were traded during trading, a decline of 59% from the average session volume of 2,498,064 shares. The stock had previously closed at GBX 55.80.

Analyst Ratings Changes

A number of brokerages recently issued reports on ECO. Berenberg Bank restated 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. Canaccord Genuity Group restated 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. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 126.50.

Eco (Atlantic) Oil & Gas Stock Up 2.1%

The company’s 50 day moving average price is GBX 54.93 and its two-hundred day moving average price is GBX 49.65. The stock has a market cap of £204.93 million, a P/E ratio of -195.33 and a beta of 0.96.

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.