Ithaca Energy (LON:ITH) Stock Price Down 1.3% – Should You Sell?

Ithaca Energy plc (LON:ITH) shares traded down 1.3% during mid-day trading on Wednesday . The company traded as low as GBX 161.20 and last traded at GBX 161.20. 249,080 shares traded hands during trading, a decline of 89% from the average session volume of 2,222,218 shares. The stock had previously closed at GBX 163.40.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Shore Capital reiterated a “no recommendation” rating on shares of Ithaca Energy in a research note on Tuesday, September 2nd. Peel Hunt reaffirmed a “buy” rating and issued a GBX 200 target price on shares of Ithaca Energy in a report on Wednesday, September 17th. Finally, Jefferies Financial Group raised Ithaca Energy to a “buy” rating and raised their price target for the stock from GBX 145 to GBX 220 in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 210.

Ithaca Energy Stock Performance

The company has a market cap of £2.66 billion and a PE ratio of -15.21. The stock’s 50-day simple moving average is GBX 194.66 and its 200 day simple moving average is GBX 185.21.

Insider Activity

In other news, insider Yaniv Friedman purchased 32,476 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was purchased at an average cost of GBX 174 per share, with a total value of £56,508.24. Insiders have bought 40,345 shares of company stock worth $7,042,336 in the last quarter. Insiders own 0.19% of the company’s stock.

About Ithaca Energy

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.