Rockhopper Exploration (LON:RKH) Trading 13% Higher - Time to Buy?

Key Points

• Rockhopper Exploration's shares rose 13% during trading, reaching as high as GBX 89.80, with a significant increase in trading volume of 170% from average session volume.
• Canaccord Genuity Group upgraded Rockhopper's target price to GBX 86, giving it a "speculative buy" rating, while the consensus rating for the stock remains a "Buy" with a price target of GBX 61.50.
• The company operates primarily in the UK oil and gas sector, holding a 35% working interest in multiple production licenses in the North Falkland Basin.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) traded 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 changed hands 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).

Wall Street Analyst Weigh In

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

Rockhopper Exploration Stock Up 13.0%

The company has a market capitalization of £557.26 million, a PE ratio of 1,195.05, a PEG ratio of 0.20 and a beta of 0.87. The company's 50 day moving average is GBX 68.55 and its two-hundred day moving average is GBX 53.19. The company has a quick ratio of 2.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.12.

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.

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