Ithaca Energy (LON:ITH) Shares Up 1.6% – Time to Buy?

Ithaca Energy plc (LON:ITH) shares rose 1.6% during trading on Thursday . The stock traded as high as GBX 217 and last traded at GBX 217. Approximately 1,760,930 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 3,685,414 shares. The stock had previously closed at GBX 213.50.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group dropped their price objective on Ithaca Energy from GBX 220 to GBX 210 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ithaca Energy presently has an average rating of “Buy” and an average target price of GBX 205.

Ithaca Energy Trading Up 1.6%

The stock has a market cap of £3.57 billion and a price-to-earnings ratio of -28.93. The stock has a 50-day moving average price of GBX 176.62 and a two-hundred day moving average price of GBX 189.58.

Insider Buying and Selling

In other Ithaca Energy news, insider Yaniv Friedman purchased 32,476 shares of the stock in a transaction on Monday, December 1st. The stock was acquired at an average price of GBX 174 per share, with a total value of £56,508.24. Insiders bought 40,282 shares of company stock valued at $7,012,644 in the last three months. Company insiders own 0.19% of the company’s stock.

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.