Kunlun Energy (OTCMKTS:KLYCY) Sees Strong Trading Volume - What's Next?

Key Points

• Kunlun Energy experienced a significant increase in trading volume, with 1,018 shares traded, up 60% from the previous session.
• Analysts from Zacks Research downgraded Kunlun Energy's rating from "hold" to a "strong sell", contributing to an average rating of "Sell" for the stock.
• The company announced a dividend increase to $0.185 per share, payable on November 7th, representing a yield of 367.0% compared to the previous $0.16 dividend.

Shares of Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) saw strong trading volume on Wednesday . 1,018 shares were traded during trading, an increase of 60% from the previous session's volume of 638 shares.The stock last traded at $8.97 and had previously closed at $8.81.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Kunlun Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Kunlun Energy currently has an average rating of "Sell".

Kunlun Energy Price Performance

The stock has a 50 day moving average of $9.31 and a 200 day moving average of $9.70.

Kunlun Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from Kunlun Energy's previous dividend of $0.16. This represents a yield of 367.0%.

About Kunlun Energy

Kunlun Energy Company Limited, an investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas. It operates through four segments: Natural Gas Sales; Sales of Liquefied Petroleum Gas (LPG); Liquefied Natural Gas (LNG) Processing and Terminal; and Exploration and Production.

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