Ithaca Energy (LON:ITH) Shares Down 11.1% – What’s Next?

Ithaca Energy plc (LON:ITH) shares traded down 11.1% during mid-day trading on Thursday . The company traded as low as GBX 138.94 ($1.79) and last traded at GBX 140.60 ($1.81). 2,443,854 shares changed hands during trading, an increase of 36% from the average session volume of 1,799,761 shares. The stock had previously closed at GBX 158.20 ($2.04).

Ithaca Energy Stock Performance

The firm has a market cap of £2.73 billion and a P/E ratio of 14.96. The firm’s fifty day simple moving average is GBX 136.54 and its 200 day simple moving average is GBX 119.31.

Ithaca Energy Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, April 10th will be issued a $0.12 dividend. This represents a dividend yield of 6.56%. The ex-dividend date of this dividend is Thursday, April 10th. Ithaca Energy’s dividend payout ratio (DPR) is 319.76%.

Insiders Place Their Bets

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of Ithaca Energy stock in a transaction on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.09), for a total value of £185,123.88 ($238,807.89). 89.60% of the stock is owned by insiders.

Ithaca Energy Company Profile

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.