Ithaca Energy (LON:ITH) Stock Price Up 0.5% – Still a Buy?

Shares of Ithaca Energy plc (LON:ITH) were up 0.5% during mid-day trading on Wednesday . The stock traded as high as GBX 248.60 and last traded at GBX 247.20. Approximately 13,370,237 shares were traded during trading, an increase of 129% from the average daily volume of 5,829,544 shares. The stock had previously closed at GBX 246.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 210 price objective on shares of Ithaca Energy in a report on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 205.

Ithaca Energy Trading Up 0.5%

The company has a market cap of £4.08 billion, a PE ratio of -48.47 and a beta of 0.31. The firm has a fifty day moving average of GBX 254.01 and a two-hundred day moving average of GBX 214.95.

Insiders Place Their Bets

In other Ithaca Energy news, insider Iain Clifford Scobbie Lewis sold 31,811 shares of Ithaca Energy stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of GBX 285, for a total transaction of £90,661.35. 0.19% of the stock is 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.