If you are looking for an undervalued London-listed energy stock, Ithaca Energy [LON:ITH] could be worth a look at the moment. The company provided production guidance for the first quarter and full year at the end of March, with expected average production for the quarter of 70-72 kboe per day for the quarter.
Ithaca Energy has been facing some production delays (e.g. delayed start-up of its non-operated Pearce field and deferred volumes on its Abigail field, which its highlighted at IPO). Ithaca Energy has also faced operational issues at its Captain project, although these were cleared up in the course of March.
All this has led to a situation where shares in Ithaca Energy have been sold down. Stock is off 30.43% in the last six months and 10.28% year to date. This will be frustrating for a management team that could have benefited more from an oil bull market.
Want the full story? Access all of The Armchair Trader's content for just £5.99 per month.
Get weekly investment ideas and tips that will take your investing to the next level. Sign up here.
Free 28 day trial. Cancel anytime.
Log In or Sign Up to Armchair Trader+Already a member? Log in here:
Not a member? Sign up now or see the membership benefits
Further content of this article is not available as it is for members only. Please visit the registration page for Armchair Trader Plus+ for further details on the benefits of becoming a member.
