Separately, Canaccord Genuity restated a buy rating and issued a GBX 170 ($2.22) target price on shares of Eland Oil & Gas in a research note on Friday, August 17th.
Shares of ELA opened at GBX 103.50 ($1.35) on Friday. Eland Oil & Gas has a 12 month low of GBX 44.30 ($0.58) and a 12 month high of GBX 91.62 ($1.20).
Eland Oil & Gas PLC, together with its subsidiaries, engages in development, exploration, and production of oil and gas properties in West Africa. The company primarily holds interests in the OML 40 license, which covers an area of 498 square kilometers located in the Niger Delta; and a 40% interest in the Ubima field that covers an area of 65 square kilometers located in the northern part of Rivers State.
Read More: Price to Earnings Ratio (PE) Basics
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