Berenberg Bank Raises Eco Atlantic Oil & Gas (LON:ECO) Price Target to GBX 230

Eco Atlantic Oil & Gas (LON:ECO) had its target price hoisted by Berenberg Bank from GBX 200 ($2.61) to GBX 230 ($3.01) in a report issued on Monday morning, Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

LON ECO opened at GBX 157 ($2.05) on Monday. Eco Atlantic Oil & Gas has a 52-week low of GBX 37.40 ($0.49) and a 52-week high of GBX 210 ($2.74). The business’s 50-day moving average price is GBX 119.51 and its 200 day moving average price is GBX 89.81. The firm has a market cap of $242.62 million and a P/E ratio of -43.61.

About Eco Atlantic Oil & Gas

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.

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