Ithaca Energy (LON:ITH) Sets New 12-Month High – Still a Buy?

Ithaca Energy plc (LON:ITH) reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 265.50 and last traded at GBX 265.50, with a volume of 662063 shares. The stock had previously closed at GBX 256.50.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut their price target on shares of Ithaca Energy from GBX 220 to GBX 210 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ithaca Energy has a consensus rating of “Buy” and a consensus price target of GBX 205.

Ithaca Energy Stock Up 3.5%

The stock has a fifty day moving average of GBX 194.35 and a 200-day moving average of GBX 193.29. The firm has a market capitalization of £4.37 billion, a P/E ratio of -35.40 and a beta of 0.84.

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.