Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Down - Here's What Happened

Key Points

• Kunlun Energy shares gapped down from $9.35 to $8.89 before the market opened, with a trading volume of 100 shares.
• Zacks Research downgraded the stock from a "hold" rating to a "strong sell", contributing to a consensus rating of "Sell" for Kunlun Energy.
• The company announced an increased dividend of $0.185, reflecting a 367.0% dividend yield, with payments to be made on November 7th to investors of record on September 4th.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $9.35, but opened at $8.89. Kunlun Energy shares last traded at $8.89, with a volume of 100 shares traded.

Analyst Upgrades and Downgrades

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

Kunlun Energy Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.60 and a quick ratio of 1.57. The firm has a 50 day moving average of $9.62 and a 200-day moving average of $9.80.

Kunlun Energy Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, September 4th will be paid a $0.185 dividend. This represents a dividend yield of 367.0%. This is an increase from Kunlun Energy's previous dividend of $0.16. The ex-dividend date is Wednesday, September 3rd.

Kunlun Energy Company Profile

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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