Rockhopper Exploration (LON:RKH) Shares Up 13% - Should You Buy?

Key Points

• Rockhopper Exploration's shares surged by 13% during trading on Thursday, reaching a high of GBX 89.80 ($1.21) before closing at GBX 87 ($1.17).
• Analysts at Canaccord Genuity Group raised their target price for the stock from GBX 49 to GBX 86, giving it a "speculative buy" rating.
• The company operates primarily in the UK, focusing on oil and gas exploration, with significant interests in the North Falkland Basin and the Greater Mediterranean region.

Rockhopper Exploration plc (LON:RKH - Get Free Report) shot up 13% during trading on Thursday . The company traded as high as GBX 89.80 ($1.21) and last traded at GBX 87 ($1.17). 8,828,586 shares were traded during trading, an increase of 170% from the average session volume of 3,274,055 shares. The stock had previously closed at GBX 77 ($1.03).

Analysts Set New Price Targets

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

Rockhopper Exploration Stock Up 3.5%

The stock has a 50 day moving average of GBX 68.55 and a 200-day moving average of GBX 53.19. The firm has a market capitalization of £577.02 million, a P/E ratio of 1,237.45, a PEG ratio of 0.20 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27.

About Rockhopper Exploration

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.

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