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

Ithaca Energy plc (LON:ITH) fell 11.1% during trading on Thursday . The company traded as low as GBX 138.94 ($1.79) and last traded at GBX 140.60 ($1.81). 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 ($2.04).

Ithaca Energy Stock Down 6.8 %

The company has a market capitalization of £2.73 billion and a PE ratio of 14.96. The stock has a 50-day moving average of GBX 136.54 and a 200 day moving average of GBX 119.31.

Ithaca Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.09), for a total value of £185,123.88 ($238,807.89). Insiders own 89.60% of the company’s stock.

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.