Rockhopper Exploration (LON:RKH) Raised to Buy at Canaccord Genuity Group

Rockhopper Exploration (LON:RKH) was upgraded by research analysts at Canaccord Genuity Group to a “buy” rating in a report released on Wednesday,Digital Look reports. The brokerage currently has a GBX 113 target price on the stock, up from their prior target price of GBX 90. Canaccord Genuity Group’s target price would suggest a potential upside of 52.70% from the company’s previous close.

Rockhopper Exploration Stock Performance

Shares of LON:RKH traded up GBX 5 during trading on Wednesday, reaching GBX 74. The stock had a trading volume of 17,914,395 shares, compared to its average volume of 4,118,223. The stock has a fifty day simple moving average of GBX 74.69 and a two-hundred day simple moving average of GBX 74.36. The company has a quick ratio of 2.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.12. Rockhopper Exploration has a 52 week low of GBX 32.50 and a 52 week high of GBX 93.32. The firm has a market capitalization of £477.11 million, a price-to-earnings ratio of -6.57, a P/E/G ratio of 0.20 and a beta of 0.87.

Insiders Place Their Bets

In other news, insider Samuel John Moody purchased 36,744 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was bought at an average cost of GBX 53 per share, for a total transaction of £19,474.32. 3.40% of the stock is currently owned by corporate insiders.

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.