Rockhopper Exploration (LON:RKH) Reaches New 1-Year High – Here’s Why

Rockhopper Exploration plc (LON:RKH) reached a new 52-week high during trading on Monday . The company traded as high as GBX 69.40 ($0.93) and last traded at GBX 69.40 ($0.93), with a volume of 2239284 shares changing hands. The stock had previously closed at GBX 64.60 ($0.86).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their target price on shares of Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the company a “speculative buy” rating in a report on Monday, June 9th.

Rockhopper Exploration Trading Down 3.3%

The company’s 50 day moving average price is GBX 54.57 and its 200 day moving average price is GBX 46. The firm has a market cap of £571.28 million, a PE ratio of 36,273.12, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 2.94.

Rockhopper Exploration (LON:RKH) last released its earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share for the quarter. As a group, analysts forecast that Rockhopper Exploration plc will post -0.1899958 EPS for the current fiscal year.

Insider Activity

In other news, insider Alison Baker sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.63), for a total transaction of £23,500 ($31,383.55). Corporate insiders own 19.22% of the company’s stock.

About Rockhopper Exploration

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.