Eco Atlantic Oil & Gas (LON:ECO) Shares Down 4.6%
Shares of Eco Atlantic Oil & Gas Ltd (LON:ECO) fell 4.6% during trading on Tuesday . The company traded as low as GBX 70.02 ($0.91) and last traded at GBX 70.60 ($0.92), 556,646 shares traded hands during trading. An increase of 129% from the average session volume of 243,202 shares. The stock had previously closed at GBX 74 ($0.97).
A number of analysts have recently issued reports on ECO shares. Berenberg Bank reduced their price target on shares of BT Group from GBX 260 ($3.40) to GBX 240 ($3.14) and set a “hold” rating for the company in a research report on Tuesday, May 21st. Peel Hunt reissued a “not rated” rating on shares of Eco Atlantic Oil & Gas in a research report on Thursday, April 4th.
The company has a 50-day moving average of GBX 72.13. The company has a market capitalization of $110.03 million and a price-to-earnings ratio of -19.61.
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 40% working interest in the Orinduik block comprising 1,800 square kilometers located 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.
Further Reading: Convertible Shares
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