Ithaca Energy (LON:ITH) Stock Price Down 11.1% – Time to Sell?

Ithaca Energy plc (LON:ITH) dropped 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). Approximately 2,443,854 shares traded hands during 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 Price Performance

The stock’s 50-day moving average is GBX 136.54 and its 200 day moving average is GBX 119.31. The stock has a market cap of £2.73 billion and a price-to-earnings ratio of 14.96.

Ithaca Energy Announces Dividend

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

Insider Buying and Selling

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

About Ithaca Energy

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.