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

Key Points

• Rockhopper Exploration's shares rose by 13% during mid-day trading, reaching a last traded price of GBX 87 ($1.17), marking a significant increase in trading volume by 170% from the average.
• Canaccord Genuity Group has raised its target price for Rockhopper from GBX 49 to GBX 86 and categorized it as a "speculative buy," contributing to a current consensus rating of "Buy" for the stock.
• The company operates primarily in the UK oil and gas exploration sector, holding a 35% working interest in several production licenses in the North Falkland Basin.

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

Analyst Ratings Changes

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

Rockhopper Exploration Trading Up 13.0%

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

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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