Ithaca Energy (LON:ITH) Trading Down 11.1% - Should You Sell?

Ithaca Energy plc (LON:ITH - Get Free Report) fell 11.1% during mid-day trading on Friday . The stock traded as low as GBX 138.94 ($1.78) and last traded at GBX 140.60 ($1.80). 2,443,854 shares traded hands 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 ($2.02).

Ithaca Energy Stock Performance

The stock has a 50 day moving average of GBX 136.67 and a 200 day moving average of GBX 120.11. The stock has a market capitalization of £2.57 billion and a P/E ratio of 14.07.

Ithaca Energy Announces Dividend

The company also recently disclosed 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 dividend yield of 6.56%. Ithaca Energy's dividend payout ratio (DPR) is presently 319.76%.

Insider Activity at Ithaca Energy

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.07), for a total value of £185,123.88 ($236,549.81). 89.60% of the stock is currently owned by insiders.

About Ithaca Energy

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.