Insider Buying: Ithaca Energy (LON:ITH) Insider Acquires £151.05 in Stock

Ithaca Energy plc (LON:ITH) insider Iain Clifford Scobbie Lewis bought 53 shares of Ithaca Energy stock in a transaction dated Monday, October 5th. The stock was acquired at an average cost of GBX 285 per share, for a total transaction of £151.05.

Iain Clifford Scobbie Lewis also recently made the following trade(s):

• On Monday, September 7th, Iain Clifford Scobbie Lewis acquired 54 shares of Ithaca Energy stock. The stock was acquired at an average price of GBX 275 per share, for a total transaction of £148.50.
• On Wednesday, August 5th, Iain Clifford Scobbie Lewis acquired 65 shares of Ithaca Energy stock. The stock was acquired at an average cost of GBX 233 per share, for a total transaction of £151.45.

Ithaca Energy Stock Performance

ITH opened at GBX 285.40 on Friday. The company has a fifty day moving average price of GBX 269.45 and a two-hundred day moving average price of GBX 253.39. Ithaca Energy plc has a 52 week low of GBX 149.80 and a 52 week high of GBX 298.60. The firm has a market capitalization of £4.71 billion, a PE ratio of 18.18 and a beta of 0.34.

Analyst Upgrades and Downgrades

ITH has been the subject of a number of research analyst reports. Berenberg Bank reiterated a “buy” rating and set a GBX 270 price target on shares of Ithaca Energy in a report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating and issued a GBX 350 price objective on shares of Ithaca Energy in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 310.

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.