Ithaca Energy (LON:ITH) Reaches New 52-Week High – Should You Buy?

Ithaca Energy plc (LON:ITH)’s stock price hit a new 52-week high on Monday . The company traded as high as GBX 290.80 and last traded at GBX 288.40, with a volume of 3559933 shares traded. The stock had previously closed at GBX 283.11.

Analyst Upgrades and Downgrades

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

Ithaca Energy Trading Up 0.4%

The firm has a market cap of £4.73 billion, a PE ratio of -56.20 and a beta of 0.35. The company’s 50-day moving average is GBX 258.13 and its 200 day moving average is GBX 213.58.

Insiders Place Their Bets

In other Ithaca Energy news, insider Iain Clifford Scobbie Lewis sold 31,811 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of GBX 285, for a total value of £90,661.35. Corporate insiders own 0.19% of the company’s stock.

Ithaca Energy Company Profile

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.