Ithaca Energy (LON:ITH) Trading Down 11.1% - What's Next?

Ithaca Energy plc (LON:ITH - Get Free Report) traded down 11.1% on Thursday . The company traded as low as GBX 138.94 ($1.77) and last traded at GBX 140.60 ($1.79). 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 ($2.01).

Ithaca Energy Trading Up 2.1 %

The company has a market capitalization of £2.79 billion and a price-to-earnings ratio of 15.26. The stock has a 50-day simple moving average of GBX 136.57 and a 200-day simple moving average of GBX 119.69.

Ithaca Energy Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, April 10th will be issued 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 dividend payout ratio is presently 319.76%.

Insiders Place Their Bets

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.06), for a total transaction of £185,123.88 ($235,646.49). 89.60% of the stock is owned by company 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.