Ithaca Energy (LON:ITH) Sets New 12-Month High – Still a Buy?

Shares of Ithaca Energy plc (LON:ITH) hit a new 52-week high during trading on Monday . The company traded as high as GBX 265.50 and last traded at GBX 265.50, with a volume of 662063 shares traded. The stock had previously closed at GBX 256.50.

Wall Street Analyst Weigh In

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

Ithaca Energy Stock Up 3.5%

The stock’s fifty day moving average is GBX 194.35 and its two-hundred day moving average is GBX 193.29. The firm has a market capitalization of £4.37 billion, a price-to-earnings ratio of -35.40 and a beta of 0.84.

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.