Hemisphere Energy (CVE:HME) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Hemisphere Energy (CVE:HME) shares have surpassed their 50-day moving average, which is currently set at C$1.91, reaching a trading high of C$1.99.
• The company announced a special dividend of $0.03 per share, which was paid to shareholders of record as of January 1st, with a dividend payout ratio of 33.36%.
• Hemisphere Energy holds a market capitalization of C$194.08 million and has strong liquidity ratios, including a current ratio of 2.15.

Shares of Hemisphere Energy Co. (CVE:HME - Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$1.91 and traded as high as C$1.99. Hemisphere Energy shares last traded at C$1.98, with a volume of 74,261 shares.

Hemisphere Energy Trading Down 0.5%

The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.74 and a current ratio of 2.15. The firm has a market cap of C$187.48 million, a PE ratio of 6.16 and a beta of 0.43. The stock's 50 day simple moving average is C$1.92 and its 200 day simple moving average is C$1.83.

Hemisphere Energy Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, August 15th. Stockholders of record on Saturday, January 1st were issued a $0.03 dividend. Hemisphere Energy's 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.