Published On: Fri, Sep 23rd, 2016

Eland Oil & Gas PLC (ELA) Rating Reiterated by Panmure Gordon

Eland Oil & Gas PLC (LON:ELA)‘s stock had its “buy” rating restated by analysts at Panmure Gordon in a research note issued to investors on Thursday. They presently have a GBX 95 ($1.24) price objective on the stock. Panmure Gordon’s price target would indicate a potential upside of 173.38% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity restated a “speculative buy” rating and issued a GBX 110 ($1.44) price objective on shares of Eland Oil & Gas PLC in a report on Tuesday, July 12th. Peel Hunt restated a “buy” rating and issued a GBX 80 ($1.04) price objective (up from GBX 76 ($0.99)) on shares of Eland Oil & Gas PLC in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company 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) traded up 2.21% during midday trading on Thursday, reaching GBX 34.75. 551,247 shares of the company’s stock traded hands. The stock’s market cap is GBX 66.93 million. The stock has a 50 day moving average of GBX 30.51 and a 200-day moving average of GBX 29.04. Eland Oil & Gas PLC has a 12 month low of GBX 20.50 and a 12 month high of GBX 48.75.

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Eland Oil & Gas PLC Company Profile
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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