Ithaca Energy (LON:ITH) Stock Price Down 11.1% - Time to Sell?

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) dropped 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). Approximately 2,443,854 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 1,799,761 shares. The stock had previously closed at GBX 158.20 ($2.01).

Ithaca Energy Price Performance

The stock's fifty day moving average is GBX 136.57 and its 200-day moving average is GBX 119.69. The stock has a market capitalization of £2.75 billion and a P/E ratio of 15.07.

Ithaca Energy Announces Dividend

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

Insider Activity at Ithaca Energy

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of Ithaca Energy stock in a transaction on Friday, March 28th. The shares were sold at an average price of GBX 162 ($2.06), for a total value 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.