Rockhopper Exploration (LON:RKH) Hits New 1-Year High - Time to Buy?

Key Points

• Rockhopper Exploration's stock reached a new 12-month high, trading at GBX 80 ($1.08), with a significant trading volume of over 13 million shares.
• Analysts have raised their price target for Rockhopper from GBX 49 to GBX 86, maintaining a "speculative buy" rating, while the current consensus target price stands at GBX 61.50.
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47, indicating ongoing trading action among insiders, who collectively own 19.22% of the company's stock.

Rockhopper Exploration plc (LON:RKH - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 80 ($1.08) and last traded at GBX 79.60 ($1.07), with a volume of 13923392 shares changing hands. The stock had previously closed at GBX 74.80 ($1.01).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on Rockhopper Exploration from GBX 49 to GBX 86 and gave the company a "speculative buy" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rockhopper Exploration presently has a consensus rating of "Buy" and an average target price of GBX 61.50.

Rockhopper Exploration Stock Up 7.0%

The company has a quick ratio of 2.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of GBX 66.15 and a two-hundred day moving average price of GBX 52.25. The firm has a market cap of £512.42 million, a PE ratio of 1,098.90, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87.

Rockhopper Exploration (LON:RKH - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported GBX 7.20 EPS for the quarter. On average, equities research analysts expect that Rockhopper Exploration plc will post -0.1899958 EPS for the current year.

Insider Transactions at Rockhopper Exploration

In other Rockhopper Exploration news, insider Alison Baker sold 50,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of GBX 47, for a total value of £23,500. 3.40% of the stock is owned by corporate insiders.

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.