Ithaca Energy (LON:ITH) Reaches New 1-Year High – Still a Buy?

Ithaca Energy plc (LON:ITH)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as GBX 165.80 ($2.26) and last traded at GBX 165.66 ($2.26), with a volume of 4669976 shares. The stock had previously closed at GBX 155 ($2.11).

Ithaca Energy Trading Up 6.4%

The stock has a market capitalization of £3.44 billion and a PE ratio of 18.84. The firm has a 50 day moving average price of GBX 136.94 and a 200 day moving average price of GBX 130.53.

Ithaca Energy Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, April 14th. Stockholders of record on Thursday, April 10th were paid a $0.12 dividend. 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%.

Insiders Place Their Bets

In other news, insider Iain Clifford Scobbie Lewis sold 114,274 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of GBX 162 ($2.21), for a total transaction of £185,123.88 ($252,040.68). In the last quarter, insiders acquired 323 shares of company stock worth $44,846. Corporate insiders own 89.60% of the company’s stock.

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.