Ithaca Energy (LON:ITH) Shares Down 11.1% – Here’s Why

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

Ithaca Energy Trading Down 6.8 %

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

Ithaca Energy Dividend Announcement

The firm 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 payout ratio is currently 319.76%.

Insider Buying and Selling

In other Ithaca Energy news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the firm’s 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.