Savannah Petroleum (SAVP) Trading Up 7%

Shares of Savannah Petroleum PLC (LON:SAVP) were up 7% during trading on Thursday . The company traded as high as GBX 27.50 ($0.36) and last traded at GBX 27.40 ($0.36). Approximately 1,007,349 shares changed hands during trading, an increase of 15% from the average daily volume of 876,753 shares. The stock had previously closed at GBX 25.60 ($0.33).

A number of analysts recently commented on SAVP shares. Shore Capital reiterated a “buy” rating on shares of Savannah Petroleum in a report on Friday, October 26th. Barclays dropped their price target on Savannah Petroleum from GBX 43 ($0.56) to GBX 38 ($0.50) and set an “overweight” rating on the stock in a report on Thursday, January 10th.

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About Savannah Petroleum (LON:SAVP)

Savannah Petroleum Plc, an oil and gas company, engages in the exploration of hydrocarbons in the Republic of Niger. The company's principal assets are the R1/R2 and R3/R4 PSC that cover an area of 13,655 km2 located in the Agadem rift basin in South East Niger. Savannah Petroleum Plc was incorporated in 2014 and is based in London, the United Kingdom.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

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