Eco Atlantic Oil & Gas (LON:ECO) Shares Down 1%

Eco Atlantic Oil & Gas Ltd (LON:ECO)’s share price fell 1% during mid-day trading on Thursday . The company traded as low as GBX 49.32 ($0.64) and last traded at GBX 51 ($0.67), 435,588 shares traded hands during mid-day trading. An increase of 79% from the average session volume of 243,202 shares. The stock had previously closed at GBX 51.50 ($0.67).

Separately, Berenberg Bank decreased their price objective on shares of Eco Atlantic Oil & Gas from GBX 230 ($3.01) to GBX 170 ($2.22) and set a “buy” rating on the stock in a research report on Thursday, November 14th.

The company has a market capitalization of $92.60 million and a P/E ratio of -14.17. The company has a 50 day moving average of GBX 98.78 and a 200-day moving average of GBX 102.38.

In related news, insider Peter William Nicol purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of GBX 141 ($1.84) per share, for a total transaction of £56,400 ($73,696.59). Also, insider Gil Holzman purchased 33,865 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of GBX 148 ($1.93) per share, for a total transaction of £50,120.20 ($65,490.92).

Eco Atlantic Oil & Gas Company Profile (LON:ECO)

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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