Rockhopper Exploration (LON:RKH) Trading 8.4% Higher - Still a Buy?

Key Points

• Rockhopper Exploration's shares surged by 8.4%, closing at GBX 77.60 ($1.03), with trading volume increasing 428% compared to average levels.
• Canaccord Genuity raised their price target for Rockhopper from GBX 49 to GBX 86, maintaining a "speculative buy" rating.
• The company reported earnings per share of GBX 7.20 ($0.10) for the last quarter and analysts project a loss of approximately -0.19 EPS for the current fiscal year.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) traded up 8.4% during mid-day trading on Thursday . The company traded as high as GBX 79.80 ($1.05) and last traded at GBX 77.60 ($1.03). 17,843,082 shares changed hands during trading, an increase of 428% from the average session volume of 3,382,039 shares. The stock had previously closed at GBX 71.60 ($0.95).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the company a "speculative buy" rating in a research report on Monday, June 9th.

Rockhopper Exploration Price Performance

The company has a current ratio of 1.27, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of £620.89 million, a P/E ratio of 39,422.88, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The stock has a 50 day moving average of GBX 54.92 and a 200-day moving average of GBX 46.18.

Rockhopper Exploration (LON:RKH - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Alison Baker sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.62), for a total transaction of £23,500 ($31,043.59). Corporate insiders own 19.22% of the company's stock.

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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