Ithaca Energy (LON:ITH) Reaches New 12-Month High - Here's What Happened

Key Points

• Ithaca Energy's share price reached a new 52-week high, trading as high as GBX 194.80 ($2.63) before closing at GBX 190.88 ($2.58).
• The company has a market capitalization of £4.03 billion and a price-to-earnings (P/E) ratio of 22.09.
• Ithaca Energy focuses on growth through both organic investments and acquisitions, highlighting substantial M&A activities in recent years.

Ithaca Energy plc (LON:ITH - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 194.80 ($2.63) and last traded at GBX 190.88 ($2.58), with a volume of 2968127 shares traded. The stock had previously closed at GBX 178.20 ($2.41).

Analysts Set New Price Targets

Separately, Shore Capital restated a "not rated" rating on shares of Ithaca Energy in a report on Wednesday, August 20th.

Ithaca Energy Trading Up 3.3%

The stock's fifty day moving average is GBX 169.82 and its two-hundred day moving average is GBX 149.04. The company has a market capitalization of £4.61 billion and a PE ratio of 25.24.

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.