Rockhopper Exploration (LON:RKH) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Rockhopper Exploration (LON:RKH) to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has GBX 113 target price on the stock, up from their prior target price of GBX 90.

Rockhopper Exploration Stock Performance

Shares of RKH opened at GBX 74 on Wednesday. Rockhopper Exploration has a one year low of GBX 32.50 and a one year high of GBX 93.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27. The stock has a market cap of £477.11 million, a P/E ratio of -6.57, a P/E/G ratio of 0.20 and a beta of 0.87. The stock has a 50-day moving average of GBX 74.52 and a two-hundred day moving average of GBX 74.36.

Insider Activity

In related news, insider Samuel John Moody purchased 36,744 shares of Rockhopper Exploration stock in a transaction dated Wednesday, January 21st. The shares were acquired at an average cost of GBX 53 per share, with a total value of £19,474.32. Company insiders own 3.40% of the company’s stock.

Rockhopper Exploration Company Profile

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.