Panmure Gordon Reiterates Buy Rating for Eland Oil & Gas PLC (ELA)
Eland Oil & Gas PLC (LON:ELA)‘s stock had its “buy” rating reaffirmed by equities researchers at Panmure Gordon in a note issued to investors on Thursday. They presently have a GBX 95 ($1.24) price objective on the stock. Panmure Gordon’s target price indicates a potential upside of 179.41% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Canaccord Genuity reissued a “speculative buy” rating and issued a GBX 110 ($1.44) target price on shares of Eland Oil & Gas PLC in a research note on Wednesday, August 31st. Peel Hunt reissued a “buy” rating and issued a GBX 80 ($1.04) target price (up previously from GBX 76 ($0.99)) on shares of Eland Oil & Gas PLC in a research note on Tuesday, May 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of GBX 103.75 ($1.35).
Shares of Eland Oil & Gas PLC (LON:ELA) opened at 37.00 on Thursday. The company’s 50-day moving average price is GBX 30.26 and its 200 day moving average price is GBX 29.00. The company’s market cap is GBX 71.27 million. Eland Oil & Gas PLC has a one year low of GBX 20.50 and a one year high of GBX 49.00.
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About Eland Oil & Gas PLC
Eland Oil & Gas PLC is an independent oil and gas company. The Company’s principal activities consist of identifying, acquiring and developing interests in oil and gas assets in West Africa, focused initially on Nigeria including the prolific Niger Delta. The Company’s asset is OML 40 in Nigeria, which are 81.4 million barrels gross 2P reserves.
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