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 stock traded as high as GBX 293.20 and last traded at GBX 282, with a volume of 1884012 shares. The stock had previously closed at GBX 282.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITH. Berenberg Bank restated a “buy” rating and issued a GBX 270 target price on shares of Ithaca Energy in a report on Wednesday, August 19th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 210 price target on shares of Ithaca Energy in a research report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 226.67.

Ithaca Energy Trading Down 0.1%

The stock has a market cap of £4.65 billion, a PE ratio of 17.96 and a beta of 0.34. The business has a 50 day moving average of GBX 252.15 and a 200-day moving average of GBX 248.64.

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.