Ithaca Energy (LON:ITH) Insider Iain Clifford Scobbie Lewis Acquires 54 Shares

Key Points

• Insider buying: Iain Clifford Scobbie Lewis acquired 54 Ithaca Energy shares at GBX 275 each, worth £148.50. He also purchased shares in two earlier transactions, bringing the recent buying activity to 188 shares.
• Stock performance: Ithaca Energy opened at GBX 278.80, near its 52-week high of GBX 290.80 and above its 50-day and 200-day moving averages, with a market capitalization of approximately £4.60 billion.
• Analyst outlook: All three analysts tracked by MarketBeat rate the stock a “Buy,” with a consensus price target of GBX 226.67. Ithaca is one of the largest independent oil and gas companies operating in the UK North Sea.

Ithaca Energy plc (LON:ITH - Get Free Report) insider Iain Clifford Scobbie Lewis bought 54 shares of the firm's stock in a transaction on Monday, September 7th. The stock was acquired at an average cost of GBX 275 per share, with a total value of £148.50.

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

• On Wednesday, August 5th, Iain Clifford Scobbie Lewis acquired 65 shares of Ithaca Energy stock. The stock was acquired at an average price of GBX 233 per share, with a total value of £151.45.
• On Monday, July 6th, Iain Clifford Scobbie Lewis bought 69 shares of Ithaca Energy stock. The shares were bought at an average price of GBX 217 per share, for a total transaction of £149.73.

Ithaca Energy Stock Performance

Shares of LON ITH opened at GBX 278.80 on Wednesday. The business's 50-day simple moving average is GBX 246.77 and its 200-day simple moving average is GBX 246.39. Ithaca Energy plc has a 52 week low of GBX 149.80 and a 52 week high of GBX 290.80. The firm has a market cap of £4.60 billion, a price-to-earnings ratio of 17.76 and a beta of 0.33.

Wall Street Analysts Forecast Growth

ITH has been the subject of a number of research analyst reports. Berenberg Bank reaffirmed a "buy" rating and set a GBX 270 price objective on shares of Ithaca Energy in a research report on Wednesday, August 19th. Jefferies Financial Group restated a "buy" rating and issued a GBX 210 target price on shares of Ithaca Energy in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.