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

Shares of Ithaca Energy plc (LON:ITH) fell 11.1% during trading on Thursday . The company traded as low as GBX 138.94 ($1.82) and last traded at GBX 140.60 ($1.84). 2,443,854 shares changed hands during trading, an increase of 36% from the average session volume of 1,799,761 shares. The stock had previously closed at GBX 158.20 ($2.07).

Ithaca Energy Price Performance

The company has a fifty day moving average price of GBX 136.40 and a two-hundred day moving average price of GBX 119.12. The company has a market capitalization of £2.91 billion and a P/E ratio of 15.94.

Ithaca Energy Announces Dividend

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

Insider Activity

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.12), for a total value of £185,123.88 ($242,562.74). 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.