Ithaca Energy (LON:ITH) Trading Up 4.3% – Here’s What Happened

Ithaca Energy plc (LON:ITH) shares rose 4.3% during mid-day trading on Wednesday . The company traded as high as GBX 238.40 and last traded at GBX 238. 1,264,974 shares were traded during mid-day trading, a decline of 78% from the average session volume of 5,747,736 shares. The stock had previously closed at GBX 228.20.

Analyst Ratings Changes

Several research analysts have weighed in on ITH shares. Berenberg Bank restated a “buy” rating and set a GBX 270 price objective on shares of Ithaca Energy in a report on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 210 price target on shares of Ithaca Energy in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 226.67.

Ithaca Energy Trading Up 0.9%

The business’s fifty day moving average is GBX 233.33 and its 200 day moving average is GBX 230.97. The company has a market cap of £4.00 billion, a P/E ratio of -47.49 and a beta of 0.31.

About Ithaca Energy

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.