Eland Oil & Gas (LON:ELA) Shares Cross Below 200 Day Moving Average of $124.60

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Shares of Eland Oil & Gas PLC (LON:ELA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $124.60 and traded as low as $117.00. Eland Oil & Gas shares last traded at $119.60, with a volume of 341,271 shares traded.

A number of equities research analysts have recently weighed in on the company. Peel Hunt reiterated a “buy” rating on shares of Eland Oil & Gas in a research report on Thursday, August 1st. Peel Hunt reiterated a “buy” rating and issued a GBX 193 ($2.52) price objective on shares of Eland Oil & Gas in a research report on Tuesday, June 25th.

The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 15.05. The company has a market capitalization of $255.28 million and a P/E ratio of 4.60. The company has a 50-day moving average of GBX 121.69 and a two-hundred day moving average of GBX 124.60.

In other news, insider George Walter Mitchell Maxwell purchased 8,345 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of GBX 120 ($1.57) per share, for a total transaction of £10,014 ($13,085.06).

Eland Oil & Gas Company Profile (LON:ELA)

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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