Rockhopper Exploration (LON:RKH) Trading 13.7% Higher on Analyst Upgrade

Rockhopper Exploration plc (LON:RKH) rose 13.7% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from GBX 78 to GBX 113. Canaccord Genuity Group currently has a buy rating on the stock. Rockhopper Exploration traded as high as GBX 88.40 and last traded at GBX 88.20. Approximately 6,717,069 shares traded hands during mid-day trading, an increase of 142% from the average daily volume of 2,773,444 shares. The stock had previously closed at GBX 77.60.

Insider Buying and Selling

In other Rockhopper Exploration news, insider Samuel John Moody bought 36,744 shares of Rockhopper Exploration stock in a transaction that occurred on Wednesday, January 21st. The stock was purchased at an average cost of GBX 53 per share, for a total transaction of £19,474.32. 2.54% of the stock is currently owned by corporate insiders.

Rockhopper Exploration Price Performance

The stock has a 50-day moving average of GBX 72.53 and a two-hundred day moving average of GBX 74.40. The firm has a market cap of £769.07 million, a price-to-earnings ratio of -7.95, a price-to-earnings-growth ratio of 0.20 and a beta of 0.01. The company has a current ratio of 2.07, a quick ratio of 2.94 and a debt-to-equity ratio of 18.89.

Rockhopper Exploration Company Profile

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.