Kunlun Energy (OTCMKTS:KLYCY) Shares Up 3.1% - Should You Buy?

Key Points

• Kunlun Energy's shares rose by 3.1%, reaching a price of $9.25, despite a decline in trading volume.
• Zacks Research downgraded Kunlun Energy from a "hold" rating to a "strong sell", with analysts generally rating the stock as a sell.
• The company announced an increased dividend of $0.185, yielding an impressive 367.0%, payable on November 7th.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report)'s share price shot up 3.1% during trading on Tuesday . The company traded as high as $9.25 and last traded at $9.25. 367 shares were traded during mid-day trading, a decline of 6% from the average session volume of 389 shares. The stock had previously closed at $8.97.

Wall Street Analyst Weigh In

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

Kunlun Energy Price Performance

The stock has a 50-day moving average of $9.22 and a 200-day moving average of $9.66.

Kunlun Energy Increases Dividend

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

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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