Shore Capital initiated coverage of Ithaca Energy PLC with a buy rating and set a price target of 340p, implying about 20% upside. Ithaca, recently promoted to the FTSE 100, is the largest listed producer focused solely on the UK Continental Shelf, producing around 125,000 barrels of oil equivalent daily with operating costs below the basin average. The broker highlights a strong dividend yield forecast of about 8.5%, supported by a payout policy of 20% to 35% of post-tax cash flow. Key upcoming catalysts include potential government support for domestic oil and gas projects and the approval of the Rosebank development, in which Ithaca holds a 20% stake, alongside the UK Chancellor's Budget announcement on October 28.
Ithaca Energy's recent analyst coverage initiation provides context for energy sector trends. For readers following energy stocks, here is Pluang's market snapshot as of Sep 22, 2026 19:41 WIB: Among 37 priced US energy-sector stocks tradable on Pluang, 7 rose and 29 fell. Notable movers include PSX (Phillips 66) at USD 257.40 with a 1-day change of -1.66% and a typical hold time of 62 days, COP (ConocoPhillips) at USD 125.50 down 1.59% with a 79-day typical hold, and EOG (EOG Resources Inc) at USD 139.25 down 1.51% with a 58-day typical hold time and 99% sell order activity.
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