Eland Oil & Gas Plc Ord 10P is listed on the London Stock Exchange trading with ticker code ELA.L, and is part of the Metals sector. It has a market capitalisation of £35,670m, with approximately 216m shares in issue. Over the last year, Eland Oil & Gas share price has been traded in a range of 68, hitting a high of 166.00, and a low of 98.00.
Eland Oil & Gas Plc, officially known as Eland Oil & Gas Plc Ord 10P was formed in August of 2009, making the company ten years old. The company filed its latest accounts on 31st December 2014, showing a turnover of approximately 7.59 million GBX, and a pre-tax profit margin of -144.18%. Eland Oil & Gas Plc currently has 7 directors, and has had 5 previous directors over the last 10 years. In the last set of accounts produced by Deloitte Llp, the company showed 5.21 million paid in salaries to the 31 staff (average wage of 168 thousand), with the directors receiving an average 139 thousand each. In the accounts filed in 2014, the company paid 0 in dividends. These accounts also showed Eland Oil & Gas Plc to have a net worth of 149.84 million, with 9.74 million held in cash.
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|Shares in Issue||216m|
|52 Week High||166.00|
|52 Week Low||98.00|
Eland Oil and Gas Plc. is a promising ‘Buy’ at the current price level as the technical analysis or charting indicates short term bullishness of the stock. The stock finished trading on the London stock exchange at 57p a share, down by over 2% compared to the previous close. A day back stock made a bullish pattern called as marubozu on the daily charts which indicates that bullishness shall likely to continue. However, stock did give a negative closing but we expect it as a consolidation move only. Currently the stock has been trading above its 20 DMA, 50 DMA and 1000 DMA of 52p, 50p and 46p respectively. The immediate support and resistance for the stock lies at 56p and 62p respectively. Therefore, breakout is confirmed only if the stock breaches 62p successfully. In case of breakout, the stock would be making fresh new highs. Thus, traders need to keep a close watch at the respective levels and accordingly hedge their positions. As per the weekly charts, the medium term target of the stock could be 75p – 80p. The weekly chart indicates the formation of ‘rounding top’ formation, a bullish pattern which again indicates towards a target of around 80p. (Read more)