Jefferies Financial Group Has Lowered Expectations for Ithaca Energy (LON:ITH) Stock Price

Ithaca Energy (LON:ITH) had its target price lowered by research analysts at Jefferies Financial Group from GBX 220 to GBX 210 in a report released on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 15.89% from the company’s current price.

Ithaca Energy Stock Performance

Shares of Ithaca Energy stock opened at GBX 181.20 on Thursday. Ithaca Energy has a fifty-two week low of GBX 120 and a fifty-two week high of GBX 242.50. The company has a market capitalization of £2.99 billion and a P/E ratio of -24.16. The company has a fifty day moving average of GBX 168.30 and a 200 day moving average of GBX 186.91.

Insider Activity

In other Ithaca Energy news, insider Yaniv Friedman bought 32,476 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were bought at an average price of GBX 174 per share, with a total value of £56,508.24. Insiders bought a total of 40,282 shares of company stock worth $7,012,644 in the last three months. Company 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.