Ithaca Energy (LON:ITH) Sets New 1-Year High – What’s Next?

Ithaca Energy plc (LON:ITH)’s stock price hit a new 52-week high on Tuesday . The company traded as high as GBX 293.20 and last traded at GBX 282, with a volume of 1884012 shares traded. The stock had previously closed at GBX 282.40.

Wall Street Analyst Weigh In

A number of research firms have commented on ITH. Jefferies Financial Group restated a “buy” rating and issued a GBX 210 price objective on shares of Ithaca Energy in a research note on Wednesday, May 20th. Berenberg Bank reissued a “buy” rating and set a GBX 270 price target on shares of Ithaca Energy in a report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ithaca Energy currently has a consensus rating of “Buy” and an average price target of GBX 226.67.

Ithaca Energy Stock Down 0.1%

The company has a fifty day moving average of GBX 252.15 and a two-hundred day moving average of GBX 248.64. The stock has a market capitalization of £4.65 billion, a price-to-earnings ratio of 17.96 and a beta of 0.34.

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.