Eco (Atlantic) Oil & Gas (LON:ECO) Trading Up 11.7% – Here’s What Happened

Posted by Alanna Baker on Dec 18th, 2024

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO – Get Free Report)’s stock price shot up 11.7% during trading on Wednesday . The company traded as high as GBX 12.74 ($0.16) and last traded at GBX 12.45 ($0.16). 1,356,864 shares changed hands during mid-day trading, an increase of 49% from the average session volume of 907,712 shares. The stock had previously closed at GBX 11.15 ($0.14).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 125 ($1.59) price target on shares of Eco (Atlantic) Oil & Gas in a research report on Thursday, August 29th.

Check Out Our Latest Report on Eco (Atlantic) Oil & Gas

Eco (Atlantic) Oil & Gas Trading Down 2.4 %

The company has a debt-to-equity ratio of 2.11, a quick ratio of 4.71 and a current ratio of 1.68. The firm has a 50-day moving average of GBX 10.16 and a 200-day moving average of GBX 11.45. The firm has a market capitalization of £44.98 million, a P/E ratio of -311.25 and a beta of 1.95.

Eco (Atlantic) Oil & Gas Company Profile

(Get Free Report)

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.