Ithaca Energy (LON:ITH) Shares Down 10.8% – What’s Next?

Ithaca Energy plc (LON:ITH) shares traded down 10.8% during trading on Thursday . The stock traded as low as GBX 106.55 ($1.35) and last traded at GBX 107.23 ($1.36). 12,468,460 shares were traded during trading, an increase of 1,143% from the average session volume of 1,003,469 shares. The stock had previously closed at GBX 120.20 ($1.52).

Ithaca Energy Stock Performance

The company’s 50 day moving average price is GBX 104.78 and its 200 day moving average price is GBX 116.80. The company has a market cap of £1.77 billion and a price-to-earnings ratio of 997.08.

Ithaca Energy Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 28th will be paid a dividend of $0.12 per share. This is a positive change from Ithaca Energy’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, November 28th. This represents a dividend yield of 9.56%. Ithaca Energy’s dividend payout ratio is 23,333.33%.

Ithaca Energy Company Profile

Ithaca Energy plc, together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea. The company own a portfolio of assets located in Northern and Central North Sea, Moray Firth, and West of Shetland area of the UKCS. Ithaca Energy plc was formerly known as Delek North Sea Limited and changed its name to Ithaca Energy plc in October 2022.