Iain Clifford Scobbie Lewis Purchases 69 Shares of Ithaca Energy (LON:ITH) Stock

Ithaca Energy plc (LON:ITH) insider Iain Clifford Scobbie Lewis bought 69 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were purchased at an average price of GBX 217 per share, with a total value of £149.73.

Ithaca Energy Stock Up 2.2%

Shares of ITH opened at GBX 228.40 on Wednesday. The stock’s fifty day simple moving average is GBX 244.01 and its 200-day simple moving average is GBX 221.71. The firm has a market capitalization of £3.77 billion, a PE ratio of -44.78 and a beta of 0.31. Ithaca Energy plc has a 12-month low of GBX 149.80 and a 12-month high of GBX 290.80.

Wall Street Analyst Weigh In

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

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.