Kunlun Energy (OTCMKTS:KLYCY) Trading Down 5.7% - Should You Sell?

Key Points

• Kunlun Energy's share price fell by 5.7% to $8.39, with trading volume dropping significantly to 121 shares, 81% below its average.
• Zacks Research has downgraded Kunlun Energy's stock from a "hold" rating to a "strong sell", with an overall average rating of "Sell".
• The company announced an increase in its dividend to $0.185, representing a yield of 367.0%, which will be paid on November 7th.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report)'s share price dropped 5.7% during trading on Wednesday . The company traded as low as $8.39 and last traded at $8.39. Approximately 121 shares traded hands during trading, a decline of 81% from the average daily volume of 647 shares. The stock had previously closed at $8.90.

Wall Street Analyst Weigh In

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

Kunlun Energy Price Performance

The business has a fifty day moving average of $9.57 and a 200-day moving average of $9.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.60 and a quick ratio of 1.57.

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 paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a yield of 367.0%. This is an increase from Kunlun Energy's previous dividend of $0.16.

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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