Ithaca Energy (LON:ITH) Shares Down 10.8% – Should You Sell?

Shares of Ithaca Energy plc (LON:ITH) dropped 10.8% during trading on Thursday . The stock traded as low as GBX 106.55 ($1.36) and last traded at GBX 107.23 ($1.37). Approximately 12,468,460 shares traded hands during mid-day trading, an increase of 1,143% from the average daily volume of 1,003,469 shares. The stock had previously closed at GBX 120.20 ($1.53).

Ithaca Energy Stock Up 0.6 %

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

Ithaca Energy Increases Dividend

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