Rockhopper Exploration (LON:RKH) Shares Up 8.4% - 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.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s stock price shot up 8.4% during mid-day trading on Thursday . The stock traded as high as GBX 79.80 ($1.06) and last traded at GBX 77.60 ($1.03). 17,843,082 shares traded hands during mid-day 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).

Analyst Upgrades and Downgrades

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

Rockhopper Exploration Trading Up 0.6%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27. The stock has a market capitalization of £609.88 million, a PE ratio of 38,723.84, a PEG ratio of 0.20 and a beta of 0.87. The stock has a 50-day moving average price of GBX 55.83 and a two-hundred day moving average price of GBX 46.89.

Rockhopper Exploration (LON:RKH - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share for the quarter. As a group, equities analysts forecast that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Buying and Selling at Rockhopper Exploration

In other news, insider Alison Baker sold 50,000 shares of Rockhopper Exploration stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.62), for a total transaction of £23,500 ($31,204.36). 19.22% of the stock is currently owned by 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.