Rockhopper Exploration (LON:RKH) Trading 13.7% Higher on Analyst Upgrade

Rockhopper Exploration plc (LON:RKH)’s share price shot up 13.7% during trading on Thursday after Canaccord Genuity Group raised their price target on the stock from GBX 78 to GBX 113. Canaccord Genuity Group currently has a buy rating on the stock. Rockhopper Exploration traded as high as GBX 88.40 and last traded at GBX 88.20. 6,717,069 shares were traded during mid-day trading, an increase of 142% from the average session volume of 2,773,444 shares. The stock had previously closed at GBX 77.60.

Insider Activity at Rockhopper Exploration

In related news, insider Samuel John Moody purchased 36,744 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average cost of GBX 53 per share, for a total transaction of £19,474.32. Corporate insiders own 2.54% of the company’s stock.

Rockhopper Exploration Price Performance

The company has a quick ratio of 2.94, a current ratio of 2.07 and a debt-to-equity ratio of 18.89. The stock’s 50 day moving average price is GBX 72.53 and its two-hundred day moving average price is GBX 74.40. The firm has a market capitalization of £769.07 million, a price-to-earnings ratio of -7.95, a P/E/G ratio of 0.20 and a beta of 0.01.

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. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.