Jefferies Financial Group Cuts Ithaca Energy (LON:ITH) Price Target to GBX 210

Ithaca Energy (LON:ITH) had its target price trimmed by Jefferies Financial Group from GBX 220 to GBX 210 in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Ithaca Energy Trading Up 1.8%

ITH stock opened at GBX 184.40 on Thursday. Ithaca Energy has a 12-month low of GBX 120 and a 12-month high of GBX 242.50. The stock has a market cap of £3.04 billion and a price-to-earnings ratio of -24.59. The business’s 50-day moving average is GBX 168.30 and its 200 day moving average is GBX 187.06.

Insider Activity at Ithaca Energy

In other news, insider Yaniv Friedman acquired 32,476 shares of Ithaca Energy stock in a transaction that occurred on Monday, December 1st. The stock was purchased at an average cost of GBX 174 per share, with a total value of £56,508.24. Insiders purchased 40,282 shares of company stock worth $7,012,644 in the last three months. 0.19% of the stock is currently owned by insiders.

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.