Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 14.2% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shot up 14.2% on Thursday . The stock traded as high as GBX 37.50 and last traded at GBX 37. 20,427,107 shares traded hands during mid-day trading, an increase of 221% from the average session volume of 6,369,754 shares. The stock had previously closed at GBX 32.40.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Eco (Atlantic) Oil & Gas currently has an average rating of “Buy” and an average price target of GBX 125.

Eco (Atlantic) Oil & Gas Price Performance

The firm has a fifty day moving average of GBX 21.23 and a two-hundred day moving average of GBX 12.61. The stock has a market capitalization of £116.64 million, a P/E ratio of -41.11 and a beta of 1.95.

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.