Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Down 3% – Should You Sell?
by Mitch Edgeman · The Markets DailyShares of Eco (Atlantic) Oil & Gas Ltd. (LON:ECO – Get Free Report) fell 3% during mid-day trading on Wednesday . The company traded as low as GBX 50.60 and last traded at GBX 51.20. 4,254,283 shares traded hands during mid-day trading, an increase of 43% from the average session volume of 2,967,469 shares. The stock had previously closed at GBX 52.80.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ECO. Canaccord Genuity Group increased their price objective on Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the stock a “speculative buy” rating in a report on Thursday, March 12th. Berenberg Bank reissued a “buy” rating and issued a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Eco (Atlantic) Oil & Gas currently has a consensus rating of “Buy” and a consensus target price of GBX 115.
Check Out Our Latest Report on Eco (Atlantic) Oil & Gas
Eco (Atlantic) Oil & Gas Stock Performance
The business has a fifty day moving average of GBX 60.17 and a 200-day moving average of GBX 42.39. The firm has a market capitalization of £178.80 million, a P/E ratio of -170.67 and a beta of 0.99.
Eco (Atlantic) Oil & Gas Company Profile
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.