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

Shares of Ithaca Energy plc (LON:ITH) were down 11.1% on Thursday . The company traded as low as GBX 138.94 ($1.79) and last traded at GBX 140.60 ($1.81). Approximately 2,443,854 shares were traded during trading, an increase of 36% from the average daily volume of 1,799,761 shares. The stock had previously closed at GBX 158.20 ($2.04).

Ithaca Energy Trading Down 6.8 %

The stock has a market capitalization of £2.73 billion and a price-to-earnings ratio of 14.96. The company’s 50 day moving average is GBX 136.54 and its 200 day moving average is GBX 119.31.

Ithaca Energy Dividend Announcement

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

Insider Buying and Selling

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of GBX 162 ($2.09), for a total transaction of £185,123.88 ($238,807.89). 89.60% of the stock is currently 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.