Ithaca Energy (LON:ITH) Stock Breaks Above 200-Day Moving Average – What’s Next?

Ithaca Energy plc (LON:ITH)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 249 and traded as high as GBX 250.40. Ithaca Energy shares last traded at GBX 249.20, with a volume of 1,854,746 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 350 price target on shares of Ithaca Energy in a research report on Tuesday, October 6th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 270 price objective on shares of Ithaca Energy in a report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 310.

Ithaca Energy Stock Performance

The stock has a market cap of £4.22 billion, a PE ratio of 16.29 and a beta of 0.34. The company’s 50 day simple moving average is GBX 283.61 and its 200 day simple moving average is GBX 249.80.

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.