Ithaca Energy (LON:ITH) Reaches New 12-Month High – Here’s What Happened

Ithaca Energy plc (LON:ITH)’s stock price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as GBX 302 and last traded at GBX 294.60, with a volume of 1,244,418 shares trading hands. The stock had previously closed at GBX 294.98.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Berenberg Bank reissued a “buy” rating and set a GBX 270 price objective on shares of Ithaca Energy in a research report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating and set a GBX 350 target price on shares of Ithaca Energy in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating. According to MarketBeat, Ithaca Energy presently has a consensus rating of “Buy” and a consensus price target of GBX 310.

Ithaca Energy Price Performance

The stock has a market capitalization of £4.94 billion, a P/E ratio of 19.04 and a beta of 0.34. The firm has a 50 day moving average of GBX 278.70 and a 200-day moving average of GBX 256.

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.