Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Up - Here's Why

Key Points

• Kunlun Energy shares opened at $8.77 after closing at $8.39, marking a significant gap up before the market opened.
• Zacks Research has downgraded the stock from a "hold" rating to a "strong sell," with a consensus rating of "Sell" from analysts.
• The company has announced a dividend increase to $0.185, scheduled for payment on November 7th, resulting in a substantial dividend yield of 367.0%.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.39, but opened at $8.77. Kunlun Energy shares last traded at $8.77, with a volume of 479 shares traded.

Wall Street Analysts Forecast Growth

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

Kunlun Energy Stock Up 4.5%

The company has a fifty day simple moving average of $9.45 and a 200-day simple moving average of $9.73.

Kunlun Energy Increases Dividend

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

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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