Insider Buying: Ithaca Energy (LON:ITH) Insider Acquires £151.05 in Stock

Ithaca Energy plc (LON:ITH) insider Iain Clifford Scobbie Lewis bought 53 shares of Ithaca Energy stock in a transaction that occurred on Monday, October 5th. The shares were acquired at an average price of GBX 285 per share, with a total value of £151.05.

Iain Clifford Scobbie Lewis also recently made the following trade(s):

• On Monday, September 7th, Iain Clifford Scobbie Lewis bought 54 shares of Ithaca Energy stock. The shares were bought at an average price of GBX 275 per share, for a total transaction of £148.50.
• On Wednesday, August 5th, Iain Clifford Scobbie Lewis purchased 65 shares of Ithaca Energy stock. The stock was purchased at an average price of GBX 233 per share, with a total value of £151.45.

Ithaca Energy Stock Up 1.6%

Shares of ITH stock traded up GBX 4.40 on Thursday, reaching GBX 279. The stock had a trading volume of 1,129,537 shares, compared to its average volume of 5,252,332. The firm’s 50-day moving average is GBX 267.80 and its two-hundred day moving average is GBX 253.07. The firm has a market capitalization of £4.61 billion, a price-to-earnings ratio of 17.77 and a beta of 0.34. Ithaca Energy plc has a 12 month low of GBX 149.80 and a 12 month high of GBX 298.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Berenberg Bank restated a “buy” rating and set a GBX 270 price objective on shares of Ithaca Energy in a research note on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating and set a GBX 350 price objective on shares of Ithaca Energy in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 310.

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.