Published On: Fri, Feb 3rd, 2017

Ithaca Energy Inc downgraded to Underperform By Macquarie


In an analyst rating update on Friday shares of Ithaca Energy Inc (LON:IAE) had their rating downgraded by analysts at Macquarie.

The broker said it has now set a ‘Underperform’ rating on shares of Ithaca Energy Inc with a price target of 86. The price target according to the broker shows a possible decrease of -20.37% from the current stock price of 108.

LON:IAE


Over the last twelve months Ithaca Energy Inc’s share price has increased from 20.5 to 108, changing by 426.83%.

The companies 50 day moving average is 97.85 and its 200 day moving average is 77.95. The 52 week high Ithaca Energy Inc’s shares have peaked at is 108.75 whilst the 52 week low for the company’s shares is 17.25.

Ithaca Energy Inc has 411,784,000 shares which are currently outstanding with a price of 108 calculating Ithaca Energy Inc’s market capitalisation to 444.73M GBp .

Ithaca Energy Inc. is a North Sea oil and gas operator engaged in the appraisal and development of the United Kingdom undeveloped discoveries and the exploitation of its existing the United Kingdom producing asset portfolio. The Company has interests in three general areas within the United Kingdom sector of the North Sea: Northern North Sea, which consists of Dons, Fionn and Broom; Central North Sea, which consists of Greater Stella Area (GSA), Cook and Pierce, and Southern England consisting of Wytch Farm. The Dons Area consists of the Don Southwest, West Don and Ythan oil fields, which produce from the Brent reservoir sequence sandstones. The Wytch Farm field is an onshore/offshore Mesozoic oil field. Cook and Pierce produce through subsea wells. The Fionn oil field consists of a production well. The Broom field development consists of approximately six subsea wells, four gas lifted production wells and two water injectors. GSA has interests in a gas-condensate field.

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