Ithaca Energy (LON:ITH) Stock Price Up 1.6% – Here’s What Happened

by · The Markets Daily

Shares of Ithaca Energy plc (LON:ITH – Get Free Report) traded up 1.6% during mid-day trading on Thursday . The stock traded as high as GBX 217 and last traded at GBX 217. 1,760,930 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 3,685,414 shares. The stock had previously closed at GBX 213.50.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered their target price on shares of Ithaca Energy from GBX 220 to GBX 210 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 205.

Get Our Latest Stock Report on ITH

Ithaca Energy Stock Up 2.3%

The stock has a fifty day moving average of GBX 177.88 and a 200-day moving average of GBX 189.93. The firm has a market capitalization of £3.66 billion and a P/E ratio of -29.59.

Insiders Place Their Bets

In related news, insider Yaniv Friedman bought 32,476 shares of the company’s stock in a transaction on Monday, December 1st. The stock was bought at an average cost of GBX 174 per share, with a total value of £56,508.24. In the last ninety days, insiders have bought 40,282 shares of company stock valued at $7,012,644. Company insiders own 0.19% of the company’s stock.

Ithaca Energy Company Profile

(Get Free Report)

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.

Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), with stakes in six of the ten largest fields in the UKCS and two of UKCS’s largest pre-development fields.

Further Reading