Ithaca Energy’s (ITH) Buy Rating Reaffirmed at Jefferies Financial Group

Ithaca Energy (LON:ITH)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a research note issued on Tuesday, Digital Look reports. They currently have a GBX 350 target price on the stock. Jefferies Financial Group’s price target points to a potential upside of 23.59% from the company’s previous close.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 270 price objective on shares of Ithaca Energy in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Ithaca Energy presently has an average rating of “Buy” and an average price target of GBX 310.

Ithaca Energy Stock Down 0.8%

Shares of LON:ITH traded down GBX 2.20 during trading on Tuesday, hitting GBX 283.20. The stock had a trading volume of 1,118,865 shares, compared to its average volume of 5,219,536. The stock has a market capitalization of £4.67 billion, a price-to-earnings ratio of 18.04 and a beta of 0.34. The stock has a 50-day simple moving average of GBX 269.45 and a two-hundred day simple moving average of GBX 253.46. Ithaca Energy has a 12-month low of GBX 149.80 and a 12-month high of GBX 298.60.

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.