Peel Hunt Reiterates Buy Rating for Independent Oil & Gas (LON:IOG)

Peel Hunt reiterated their buy rating on shares of Independent Oil & Gas (LON:IOG) in a report released on Thursday morning, LSE.Co.UK reports. Peel Hunt currently has a GBX 38 ($0.50) price objective on the stock.

IOG has been the subject of several other reports. Peel Hunt decreased their price objective on shares of Independent Oil & Gas from GBX 50 ($0.65) to GBX 38 ($0.50) and set a buy rating for the company in a report on Thursday. FinnCap reiterated a corporate rating on shares of Independent Oil & Gas in a report on Tuesday, October 29th.

Shares of Independent Oil & Gas stock remained flat at $GBX 18.75 ($0.25) on Thursday. 79,802 shares of the stock traded hands, compared to its average volume of 129,754. The business has a 50 day simple moving average of GBX 19.68 and a 200-day simple moving average of GBX 16.80. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 380.79. The stock has a market cap of $89.40 million and a P/E ratio of -3.99. Independent Oil & Gas has a twelve month low of GBX 10 ($0.13) and a twelve month high of GBX 28.81 ($0.38).

Independent Oil & Gas Company Profile

Independent Oil and Gas plc explores for and develops oil and gas properties in the North Sea, the United Kingdom. It primarily focuses on the development of hydrocarbon reserves, as well as the acquisition, trading, and monetization of its license interests. The company 100% working interests in the Blythe gas field in the southern North Sea; the Skipper license located to the south east of the Shetlands in the northern North Sea; and the Nailsworth, Elland, and Southwark fields in the southern North Sea.

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