Rockhopper Exploration (LON:RKH) Upgraded by Canaccord Genuity Group to Buy Rating

Rockhopper Exploration (LON:RKH) was upgraded by investment analysts at Canaccord Genuity Group to a “buy” rating in a report issued on Wednesday,Digital Look reports. The firm currently has a GBX 113 target price on the stock, up from their previous target price of GBX 90. Canaccord Genuity Group’s price objective would suggest a potential upside of 52.70% from the company’s current price.

Rockhopper Exploration Stock Performance

Shares of Rockhopper Exploration stock traded up GBX 5 during midday trading on Wednesday, hitting GBX 74. The company had a trading volume of 17,914,395 shares, compared to its average volume of 4,118,223. Rockhopper Exploration has a 1-year low of GBX 32.50 and a 1-year high of GBX 93.32. The business’s 50 day simple moving average is GBX 74.69 and its two-hundred day simple moving average is GBX 74.36. The stock has a market cap of £477.11 million, a PE ratio of -6.57, a P/E/G ratio of 0.20 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 2.94.

Insider Activity

In related news, insider Samuel John Moody acquired 36,744 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was acquired at an average price of GBX 53 per share, with a total value of £19,474.32. Insiders own 3.40% of the company’s stock.

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.