Ithaca Energy (LON:ITH) Shares Down 10.8% – Here’s Why

Shares of Ithaca Energy plc (LON:ITH) traded down 10.8% during mid-day trading on Thursday . The company traded as low as GBX 106.55 ($1.36) and last traded at GBX 107.23 ($1.37). 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 ($1.53).

Ithaca Energy Stock Up 0.6 %

The stock has a market capitalization of £1.72 billion and a PE ratio of 873.33. The stock’s 50 day moving average price is GBX 105.09 and its 200-day moving average price is GBX 116.74.

Ithaca Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.12 per share. This is an increase from Ithaca Energy’s previous dividend of $0.10. The ex-dividend date is Thursday, November 28th. This represents a yield of 9.56%. Ithaca Energy’s dividend payout ratio (DPR) 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.