Ithaca Energy (LON:ITH) Trading Down 11.1% – Here’s What Happened

Ithaca Energy plc (LON:ITH)’s share price was down 11.1% during mid-day trading on Thursday . The stock traded as low as GBX 138.94 ($1.82) and last traded at GBX 140.60 ($1.84). Approximately 2,443,854 shares changed 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 ($2.07).

Ithaca Energy Price Performance

The stock has a market capitalization of £2.93 billion and a price-to-earnings ratio of 16.06. The stock has a 50-day moving average of GBX 136.40 and a 200 day moving average of GBX 119.12.

Ithaca Energy Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, April 10th will be paid a $0.12 dividend. This represents a dividend yield of 6.56%. The ex-dividend date is Thursday, April 10th. Ithaca Energy’s dividend payout ratio (DPR) is currently 319.76%.

Insider Transactions at Ithaca Energy

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of GBX 162 ($2.12), for a total value of £185,123.88 ($242,562.74). 89.60% of the stock is owned by corporate 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.