Eland Oil & Gas (LON:ELA) Receives “Buy” Rating from Peel Hunt

Eland Oil & Gas (LON:ELA)‘s stock had its “buy” rating reaffirmed by investment analysts at Peel Hunt in a report released on Monday, November 12th.

Separately, Canaccord Genuity reiterated 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.

LON ELA traded up GBX 4 ($0.05) on Monday, hitting GBX 108 ($1.41). 332,965 shares of the company’s stock traded hands, compared to its average volume of 153,615. Eland Oil & Gas has a 1-year low of GBX 44.30 ($0.58) and a 1-year high of GBX 91.62 ($1.20).

In other news, insider Ronald Bain bought 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of GBX 109 ($1.42) per share, for a total transaction of £19,075 ($24,924.87).

Eland Oil & Gas Company Profile

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.

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