Ithaca Energy (LON:ITH) Hits New 52-Week High – Here’s Why

Ithaca Energy plc (LON:ITH) shares hit a new 52-week high on Tuesday . The company traded as high as GBX 293.20 and last traded at GBX 282, with a volume of 1884012 shares changing hands. The stock had previously closed at GBX 282.40.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Berenberg Bank reiterated a “buy” rating and issued a GBX 270 target price on shares of Ithaca Energy in a research report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating and set a GBX 210 target price on shares of Ithaca Energy in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 240.

Ithaca Energy Price Performance

The stock’s fifty day moving average price is GBX 254.44 and its 200-day moving average price is GBX 249.60. The firm has a market cap of £4.75 billion, a PE ratio of 18.34 and a beta of 0.34.

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.