Insider Buying: Ithaca Energy (LON:ITH) Insider Buys £149.73 in Stock

Ithaca Energy plc (LON:ITH) insider Yaniv Friedman bought 69 shares of the business’s stock in a transaction on Monday, July 6th. The shares were bought at an average price of GBX 217 per share, for a total transaction of £149.73.

Ithaca Energy Stock Performance

Shares of LON ITH opened at GBX 228.40 on Wednesday. The business’s 50-day simple moving average is GBX 244.01 and its 200-day simple moving average is GBX 221.71. Ithaca Energy plc has a 52 week low of GBX 149.80 and a 52 week high of GBX 290.80. The firm has a market cap of £3.77 billion, a price-to-earnings ratio of -44.78 and a beta of 0.31.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITH. Berenberg Bank reissued a “buy” rating and issued a GBX 270 price target on shares of Ithaca Energy in a research report on Thursday, June 25th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 210 target price on shares of Ithaca Energy in a report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ithaca Energy currently has a consensus rating of “Buy” and an average target price of GBX 226.67.

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.