Jefferies Financial Group Cuts Ithaca Energy (LON:ITH) Price Target to GBX 210

Ithaca Energy (LON:ITH) had its target price dropped by investment analysts at Jefferies Financial Group from GBX 220 to GBX 210 in a report issued on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 15.07% from the stock’s previous close.

Ithaca Energy Price Performance

Shares of ITH traded up GBX 1.69 on Thursday, hitting GBX 182.49. The company’s stock had a trading volume of 479,427 shares, compared to its average volume of 4,124,692. The company has a market capitalization of £3.01 billion and a PE ratio of -24.33. Ithaca Energy has a fifty-two week low of GBX 120 and a fifty-two week high of GBX 242.50. The company has a 50 day moving average price of GBX 168.11 and a 200 day moving average price of GBX 186.83.

Insider Buying and Selling at Ithaca Energy

In related news, insider Yaniv Friedman purchased 32,476 shares of Ithaca Energy stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average price of GBX 174 per share, for a total transaction of £56,508.24. Insiders acquired 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.

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.