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

Ithaca Energy plc (LON:ITH) shares fell 11.1% during mid-day trading on Thursday . The stock traded as low as GBX 138.94 ($1.79) and last traded at GBX 140.60 ($1.81). 2,443,854 shares were traded during mid-day 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 company has a market cap of £2.73 billion and a PE ratio of 14.96. The stock’s 50-day simple moving average is GBX 136.54 and its 200 day simple moving average is GBX 119.31.

Ithaca Energy Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, April 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, April 10th. This represents a yield of 6.56%. Ithaca Energy’s dividend payout ratio is currently 319.76%.

Insider Buying and Selling at Ithaca Energy

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the stock in a transaction dated Friday, March 28th. The shares were 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 corporate 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.