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

Ithaca Energy plc (LON:ITH)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as GBX 296.60 and last traded at GBX 295.80, with a volume of 1433526 shares. The stock had previously closed at GBX 290.20.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 270 price objective on shares of Ithaca Energy in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ithaca Energy presently has a consensus rating of “Buy” and a consensus target price of GBX 240.

Ithaca Energy Stock Up 1.9%

The stock’s 50 day moving average price is GBX 260.49 and its 200-day moving average price is GBX 251.40. The stock has a market capitalization of £4.88 billion, a PE ratio of 18.84 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.