Peel Hunt Reiterates Buy Rating for Eland Oil & Gas (ELA)

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Peel Hunt reiterated their buy rating on shares of Eland Oil & Gas (LON:ELA) in a research note issued to investors on Monday. The brokerage currently has a GBX 160 ($2.09) price target on the stock.

Separately, Canaccord Genuity reissued a buy rating and set a GBX 165 ($2.16) target price on shares of Eland Oil & Gas in a research report on Monday, November 12th.

LON:ELA opened at GBX 123.50 ($1.61) on Monday. Eland Oil & Gas has a 52 week low of GBX 44.30 ($0.58) and a 52 week 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 bought at an average price of GBX 109 ($1.42) per share, with a total value of £19,075 ($24,924.87).

About Eland Oil & Gas

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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