Ithaca Energy (LON:ITH) Shares Down 11.1% - Here's What Happened

Ithaca Energy plc (LON:ITH - Get Free Report) traded down 11.1% during mid-day trading on Thursday . The stock traded as low as GBX 138.94 ($1.77) and last traded at GBX 140.60 ($1.79). 2,443,854 shares were traded during mid-day 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 0.9 %

The business has a fifty day moving average of GBX 136.57 and a 200-day moving average of GBX 119.69. The company has a market cap of £2.75 billion and a PE ratio of 15.07.

Ithaca Energy Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, April 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, April 10th. This represents a dividend yield of 6.56%. Ithaca Energy's dividend payout ratio is presently 319.76%.

Insider Activity 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 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 currently 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.