Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Down - Time to Sell?

Key Points

• Kunlun Energy's stock gapped down from $9.51 to $9.03 before trading, with a trading volume of only 525 shares.
• Zacks Research downgraded Kunlun Energy from a "hold" to a "strong sell" rating, contributing to a consensus sell rating for the stock.
• The company has announced an increase in its dividend from $0.16 to $0.185, with a yield of 367.0%, set to be paid on November 7th.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $9.51, but opened at $9.03. Kunlun Energy shares last traded at $9.03, with a volume of 525 shares changing hands.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Kunlun Energy Price Performance

The company's 50 day moving average price is $9.67 and its 200 day moving average price is $9.83. The company has a quick ratio of 1.57, a current ratio of 1.60 and a debt-to-equity ratio of 0.17.

Kunlun Energy Increases Dividend

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

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.