Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Down 3.2% – Should You Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price dropped 3.2% during mid-day trading on Tuesday . The company traded as low as GBX 29.77 and last traded at GBX 30. Approximately 4,816,689 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 5,640,437 shares. The stock had previously closed at GBX 31.

Analysts Set New Price Targets

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

Eco (Atlantic) Oil & Gas Stock Down 3.2%

The company has a market capitalization of £94.57 million, a PE ratio of -33.33 and a beta of 1.95. The business has a 50 day simple moving average of GBX 20.72 and a 200 day simple moving average of GBX 12.48.

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.