Ithaca Energy (LON:ITH) Shares Down 11.1% – Time to Sell?

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

Ithaca Energy Stock Performance

The business’s fifty day moving average price is GBX 136.40 and its two-hundred day moving average price is GBX 119.12. The stock has a market capitalization of £2.93 billion and a P/E ratio of 16.06.

Ithaca Energy Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, April 10th will be paid a dividend of $0.12 per share. 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 is presently 319.76%.

Insider Activity at Ithaca Energy

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.12), for a total transaction of £185,123.88 ($242,562.74). 89.60% of the stock is currently owned by company 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.