Kunlun Energy (OTCMKTS:KLYCY) Trading Up 1.9% - Still a Buy?

Key Points

• Kunlun Energy's shares increased by 1.9%, trading at $9.58 with a significant rise in trading volume, up 412% from the average daily volume.
• Zacks Research downgraded Kunlun Energy from a "hold" rating to a "strong sell", contributing to an overall rating of "Sell" from analysts.
• The company has announced a new dividend payment of $0.185 per share, reflecting an increase from the previous $0.16 dividend, with a high dividend yield of 367.0%.

Shares of Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) were up 1.9% during trading on Tuesday . The stock traded as high as $9.58 and last traded at $9.58. Approximately 675 shares traded hands during mid-day trading, an increase of 412% from the average daily volume of 132 shares. The stock had previously closed at $9.40.

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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Kunlun Energy Trading Up 1.9%

The business has a fifty day simple moving average of $9.64 and a 200-day simple moving average of $9.81. The company has a current ratio of 1.60, a quick ratio of 1.57 and a debt-to-equity ratio of 0.17.

Kunlun Energy Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, September 3rd. This is a positive change from Kunlun Energy's previous dividend of $0.16. 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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