Eco Atlantic Oil & Gas (CVE:EOG) Hits New 12-Month High - Still a Buy?

Key Points

• Eco Atlantic Oil & Gas hit a new 52-week high intraday at C$1.27 and was last trading at C$1.23, up 7.5% on volume of 727,352 shares.
• The stock shows strong short-term momentum with a 50-day moving average of C$0.87 versus a 200-day moving average of C$0.50.
• The company is a development-stage explorer with interests in the Orinduik block (Suriname/Guyana) and a 25% stake plus multiple offshore licenses in Namibia; it has a market cap of C$423.66M and a negative P/E (-408.33), indicating it remains loss-making.

Eco Atlantic Oil & Gas Ltd (CVE:EOG - )'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$1.27 and last traded at C$1.23, with a volume of 727352 shares trading hands. The stock had previously closed at C$1.14.

Eco Atlantic Oil & Gas Trading Up 7.5%

The stock's 50-day moving average is C$0.87 and its 200-day moving average is C$0.50. The company has a market cap of C$423.66 million, a price-to-earnings ratio of -408.33 and a beta of 0.01.

Eco Atlantic Oil & Gas Company Profile

Eco (Atlantic) Oil & Gas Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of petroleum, natural gas, and shale gas properties. The company holds a working interest in the Orinduik block in the Suriname Guyana basin, the Co-Operative Republic of Guyana; a 25% working interest in the Cooper block covering 1,100 kilometers located in Namibia; and interests in four offshore petroleum licenses totaling approximately 25,000 square kilometers located in the Republic of Namibia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.