Ithaca Energy (LON:ITH) Hits New 12-Month High – Here’s Why

Ithaca Energy plc (LON:ITH) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 165.80 ($2.25) and last traded at GBX 165.66 ($2.25), with a volume of 4669976 shares. The stock had previously closed at GBX 155 ($2.10).

Ithaca Energy Trading Up 5.1%

The business has a fifty day moving average of GBX 137.55 and a 200-day moving average of GBX 130.94. The company has a market cap of £3.40 billion and a PE ratio of 18.60.

Ithaca Energy Announces Dividend

The company also recently announced a dividend, which was paid on Monday, April 14th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, April 10th. This represents a dividend yield of 6.56%. Ithaca Energy’s dividend payout ratio (DPR) is 319.76%.

Insider Buying and Selling

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.20), for a total value of £185,123.88 ($251,356.25). Insiders acquired a total of 323 shares of company stock worth $44,846 in the last three months. 89.60% of the stock is owned by corporate 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.