Hemisphere Energy (CVE:HME) Share Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• Hemisphere Energy Co. shares rose above their 50-day moving average of C$1.94, reaching a high of C$2.01 during trading.
• The company has a debt-to-equity ratio of 5.65, indicating a highly leveraged position, but also maintains a current ratio of 2.15, suggesting good short-term liquidity.
• Hemisphere Energy recently announced a special dividend of C$0.03 per share, with a payout ratio of 31.25%, providing a return to its shareholders.

Hemisphere Energy Co. (CVE:HME - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$1.94 and traded as high as C$2.01. Hemisphere Energy shares last traded at C$1.99, with a volume of 123,513 shares.

Hemisphere Energy Trading Up 1.4%

The company has a quick ratio of 0.74, a current ratio of 2.15 and a debt-to-equity ratio of 5.65. The firm has a market cap of C$200.80 million, a price-to-earnings ratio of 6.59 and a beta of 0.45. The company has a 50-day moving average price of C$1.95 and a 200 day moving average price of C$1.84.

Hemisphere Energy Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, August 15th. Stockholders of record on Saturday, January 1st were issued a dividend of $0.03 per share. Hemisphere Energy's dividend payout ratio is 31.25%.

About Hemisphere Energy

Hemisphere Energy Corporation acquires, explores, develops, and produces petroleum and natural gas interests in Canada. It primarily owns a 100% interest in the Atlee Buffalo property located in southeastern Alberta. The company was formerly known as Northern Hemisphere Development Corp. and changed its name to Hemisphere Energy Corporation in April 2009.