Ithaca Energy (LON:ITH) Shares Down 10.8% – What’s Next?

Ithaca Energy plc (LON:ITH)’s share price traded down 10.8% on Thursday . The stock traded as low as GBX 106.55 ($1.35) and last traded at GBX 107.23 ($1.36). 12,468,460 shares traded hands during mid-day trading, an increase of 1,143% from the average session volume of 1,003,469 shares. The stock had previously closed at GBX 120.20 ($1.52).

Ithaca Energy Stock Performance

The stock has a market cap of £1.77 billion and a price-to-earnings ratio of 997.08. The company’s 50 day simple moving average is GBX 104.78 and its two-hundred day simple moving average is GBX 116.80.

Ithaca Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 28th will be paid a $0.12 dividend. This represents a yield of 9.56%. The ex-dividend date of this dividend is Thursday, November 28th. This is a positive change from Ithaca Energy’s previous dividend of $0.10. Ithaca Energy’s dividend payout ratio is currently 23,333.33%.

Ithaca Energy Company Profile

Ithaca Energy plc, together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea. The company own a portfolio of assets located in Northern and Central North Sea, Moray Firth, and West of Shetland area of the UKCS. Ithaca Energy plc was formerly known as Delek North Sea Limited and changed its name to Ithaca Energy plc in October 2022.