Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 13.1% - Still a Buy?

Key Points

• Shares jumped 13.1% to GBX 62 on Tuesday with volume about 11% above average, closing well above its 50‑day (GBX 37.53) and 200‑day (GBX 20.42) moving averages.
• Analysts are bullish: Berenberg reiterated a Buy with a GBX 125 target and Canaccord raised its target to GBX 105 (the average analyst price target is GBX 115), leaving the consensus rating at Buy.
• Eco Atlantic is an exploration-focused oil & gas company (market cap £212.13M) with offshore interests in Guyana, Namibia and South Africa, pursuing low‑carbon‑intensity hydrocarbon opportunities near existing infrastructure.

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO - Get Free Report) shares traded up 13.1% during trading on Tuesday . The stock traded as high as GBX 62 and last traded at GBX 62. 4,352,454 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 3,925,951 shares. The stock had previously closed at GBX 54.80.

Analysts Set New Price Targets

A number of research firms have issued reports on ECO. Berenberg Bank restated a "buy" rating and set a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, March 11th. Canaccord Genuity Group boosted their price objective on Eco (Atlantic) Oil & Gas from GBX 100 to GBX 105 and gave the stock a "speculative buy" rating in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of GBX 115.

Eco (Atlantic) Oil & Gas Price Performance

The firm's 50 day moving average price is GBX 37.53 and its 200-day moving average price is GBX 20.42. The firm has a market cap of £212.13 million, a price-to-earnings ratio of -68.89 and a beta of 1.05.

About Eco (Atlantic) Oil & Gas

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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