Kunlun Energy (OTCMKTS:KLYCY) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Kunlun Energy (OTCMKTS:KLYCY) from a "hold" to a strong sell in a note to investors on Monday.
• Shares opened at $9.47, trading below the 50-day moving average of $10.45 but near the 200-day average of $9.73, with a 52-week range of $8.39 to $11.76.
• Kunlun Energy is a China-based energy company focused on exploration, production and midstream pipeline distribution of natural gas and crude oil across northwest basins including Tarim, Junggar and Turpan–Hami.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

Kunlun Energy Price Performance

Shares of OTCMKTS KLYCY opened at $9.47 on Monday. The business's 50-day simple moving average is $10.45 and its 200-day simple moving average is $9.73. Kunlun Energy has a 52 week low of $8.39 and a 52 week high of $11.76.

About Kunlun Energy

Kunlun Energy Company Limited is a China-based energy company engaged primarily in the exploration, production, distribution and sales of natural gas and crude oil. As a publicly traded entity on the Hong Kong Stock Exchange and the OTC Markets under the ticker KLYCY, the company focuses on developing upstream reserves in key basins across northwest China, including the Tarim, Junggar and Turpan–Hami basins. Kunlun Energy’s upstream activities are supported by a combination of proprietary drilling technologies and strategic partnerships that enable it to target both conventional and unconventional hydrocarbon resources.

In its midstream operations, Kunlun Energy has established an extensive pipeline network that links its production areas to major consumption centers.

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