Rockhopper Exploration (LON:RKH) Shares Up 6.5% – What’s Next?

Rockhopper Exploration plc (LON:RKH)’s share price shot up 6.5% on Friday. The company traded as high as GBX 60.60 and last traded at GBX 60.30. 5,631,096 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 3,261,385 shares. The stock had previously closed at GBX 56.60.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their target price on Rockhopper Exploration from GBX 130 to GBX 135 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Rockhopper Exploration presently has an average rating of “Buy” and an average target price of GBX 135.

Rockhopper Exploration Stock Up 6.5%

The firm has a market cap of £644.84 million, a P/E ratio of 44.01, a P/E/G ratio of 0.20 and a beta of 1.18. The company has a current ratio of 3.44, a quick ratio of 2.94 and a debt-to-equity ratio of 33.09. The business has a 50-day moving average price of GBX 65.74 and a 200-day moving average price of GBX 72.84.

Rockhopper Exploration Company Profile

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.