Berenberg Bank Raises Eco Atlantic Oil & Gas (LON:ECO) Price Target to GBX 230

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Eco Atlantic Oil & Gas (LON:ECO) had its price objective raised by stock analysts at Berenberg Bank from GBX 200 ($2.61) to GBX 230 ($3.01) in a research report issued on Monday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 29.94% from the stock’s current price.

ECO stock traded up GBX 2 ($0.03) during mid-day trading on Monday, hitting GBX 177 ($2.31). 4,207,256 shares of the company were exchanged, compared to its average volume of 243,202. The company has a market capitalization of $273.52 million and a PE ratio of -49.17. Eco Atlantic Oil & Gas has a twelve month low of GBX 21 ($0.27) and a twelve month high of GBX 167 ($2.18). The firm has a fifty day simple moving average of GBX 109.67 and a 200 day simple moving average of GBX 87.36.

Eco Atlantic Oil & Gas Company Profile

Eco (Atlantic) Oil & Gas Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of petroleum, natural gas, and shale gas properties. The company holds a 40% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin, the Co-Operative Republic of Guyana; a 25% working interest in the Cooper block covering 1,100 kilometers located in Namibia; and interests in four offshore petroleum licenses totaling approximately 25,000 square kilometers located in the Republic of Namibia.

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