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

Shares of 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 Stock Down 6.8 %

The company has a market cap of £2.73 billion and a PE ratio of 14.96. The stock has a 50-day simple moving average of GBX 136.54 and a 200 day simple moving average of GBX 119.31.

Ithaca Energy Dividend Announcement

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

Insider Buying and Selling at Ithaca Energy

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

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.