Insider Buying: Ithaca Energy (LON:ITH) Insider Buys £151.05 in Stock

Ithaca Energy plc (LON:ITH) insider Iain Clifford Scobbie Lewis acquired 53 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were acquired at an average price of GBX 285 per share, with a total value of £151.05.

Iain Clifford Scobbie Lewis also recently made the following trade(s):

• On Monday, September 7th, Iain Clifford Scobbie Lewis bought 54 shares of Ithaca Energy stock. The stock was acquired at an average cost of GBX 275 per share, for a total transaction of £148.50.
• On Wednesday, August 5th, Iain Clifford Scobbie Lewis acquired 65 shares of Ithaca Energy stock. The stock was bought at an average cost of GBX 233 per share, for a total transaction of £151.45.

Ithaca Energy Trading Up 1.6%

Shares of ITH traded up GBX 4.40 during midday trading on Thursday, reaching GBX 279. 1,129,537 shares of the company were exchanged, compared to its average volume of 5,252,332. The stock has a 50-day moving average price of GBX 267.80 and a 200-day moving average price of GBX 253.07. The company has a market cap of £4.61 billion, a price-to-earnings ratio of 17.77 and a beta of 0.34. Ithaca Energy plc has a 1-year low of GBX 149.80 and a 1-year high of GBX 298.60.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ITH shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 350 target price on shares of Ithaca Energy in a research report on Tuesday. Berenberg Bank reiterated a “buy” rating and issued a GBX 270 price target on shares of Ithaca Energy in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 310.

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.