Berenberg Bank Reaffirms Buy Rating for Eco (Atlantic) Oil & Gas (LON:ECO)

Key Points

• Berenberg Bank reaffirmed a "buy" rating on Eco (Atlantic) Oil & Gas (LON:ECO) with a GBX 125 price target, implying roughly a 132.34% upside from the prior close.
• The stock traded at GBX 53.80 mid-day on Wednesday with heavy volume of 10.31 million shares versus an average of 3.98 million, and the company has a market cap of £184.07 million and a negative P/E of -59.78.
• Eco Atlantic is an Atlantic-margin oil & gas explorer listed on TSX‑V and AIM with offshore license interests in Guyana, Namibia and South Africa, targeting low‑carbon intensity oil and gas opportunities.

Eco (Atlantic) Oil & Gas (LON:ECO - Get Free Report)'s stock had its "buy" rating restated by research analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They presently have a GBX 125 price objective on the stock. Berenberg Bank's target price would indicate a potential upside of 132.34% from the company's previous close.

Eco (Atlantic) Oil & Gas Stock Performance

LON:ECO traded up GBX 5.30 during mid-day trading on Wednesday, reaching GBX 53.80. 10,312,976 shares of the company's stock were exchanged, compared to its average volume of 3,982,631. Eco has a one year low of GBX 6.79 and a one year high of GBX 62. The business's fifty day simple moving average is GBX 35.48 and its two-hundred day simple moving average is GBX 19.07. The firm has a market capitalization of £184.07 million, a PE ratio of -59.78 and a beta of 1.05.

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.

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