Ithaca Energy (LON:ITH) Insider Iain Clifford Scobbie Lewis Sells 31,811 Shares

Key Points

• Insider sale: Director Iain Clifford Scobbie Lewis sold a total of 63,399 Ithaca Energy shares on March 19–20 (31,811 at GBX 285 and 31,588 at GBX 267) for roughly £175,001.31.
• Stock movement: Shares fell to GBX 249.75 on Monday on heavy trading of 19.95 million shares (vs. average 4.6 million), with the company sporting a market cap of £4.11 billion and a negative P/E of -33.3.
• Analyst view: Jefferies lowered its price target from GBX 220 to GBX 210 but kept a "buy" rating; the consensus rating is "Buy" with a target of GBX 205.

Ithaca Energy plc (LON:ITH - Get Free Report) insider Iain Clifford Scobbie Lewis sold 31,811 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of GBX 285, for a total transaction of £90,661.35.

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

• On Friday, March 20th, Iain Clifford Scobbie Lewis sold 31,588 shares of Ithaca Energy stock. The shares were sold at an average price of GBX 267, for a total value of £84,339.96.
• On Monday, January 5th, Iain Clifford Scobbie Lewis acquired 94 shares of Ithaca Energy stock. The shares were bought at an average cost of GBX 160 per share, for a total transaction of £150.40.

Ithaca Energy Stock Performance

Shares of LON ITH traded down GBX 17.31 during trading on Monday, hitting GBX 249.75. 19,950,055 shares of the company were exchanged, compared to its average volume of 4,604,762. Ithaca Energy plc has a 12-month low of GBX 120 and a 12-month high of GBX 288.50. The firm has a market capitalization of £4.11 billion, a PE ratio of -33.30 and a beta of 0.84. The company has a fifty day moving average price of GBX 205.55 and a 200-day moving average price of GBX 194.98.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price target on Ithaca Energy from GBX 220 to GBX 210 and set a "buy" rating for the company in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of GBX 205.

Ithaca Energy Company Profile

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.

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