Ithaca Energy PLC (LSE:ITH) retained a 'buy' rating from Jefferies on Friday as the broker mapped an equity valuation framework spanning three distinct commodity price scenarios. The shares traded at 267.20p as the investment bank maintained its 350p base price target, with a net asset value of 222p and an EV/EBITDA valuation of 469p.
Ithaca Energy (Ithaca Energy PLC (LSE:ITH) shares rose almost 6% to 265.8p in early trading on Wednesday after the North Sea oil and gas producer reported stronger production and raised its dividend guidance. The shares were up 14.20p from Tuesday's close of 251.60p, having opened at 250.40p and reached an early high of 270.20p.
Ithaca Energy PLC (LSE:ITH) lifted its 2026 dividend guidance after record second-quarter production strengthened its full-year outlook and helped drive more than $1 billion of first-half operating cash flow. The North Sea producer now expects dividends of $500 million to $530 million, up from its previous $470 million to $520 million range, and declared a $255 million first interim payment.
Oil and gas producer Ithaca Energy raised its 2026 dividend forecast on Wednesday, buoyed by robust cash generation and growth in half-year production.