Ithaca Energy (LON:ITH) Trading 1.3% Higher - Time to Buy?

Ithaca Energy plc (LON:ITH - Get Free Report) rose 1.3% during mid-day trading on Friday . The stock traded as high as GBX 110.80 ($1.39) and last traded at GBX 108.40 ($1.36). Approximately 718,974 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 973,723 shares. The stock had previously closed at GBX 107 ($1.35).

Ithaca Energy Price Performance

The business's 50 day moving average price is GBX 104.86 and its 200 day moving average price is GBX 114.35. The firm has a market cap of £1.79 billion and a PE ratio of 903.33.

Ithaca Energy Increases Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, November 28th. This represents a dividend yield of 9.56%. This is a boost from Ithaca Energy's previous dividend of $0.10. Ithaca Energy's dividend payout ratio is presently 23,333.33%.

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.