Meren Energy (OTCMKTS:AOIFF) Shares Pass Below 200-Day Moving Average - Should You Sell?

Key Points

• Meren Energy's shares have crossed below the 200-day moving average, dropping to a low of $1.26, with the current trading price at $1.31.
• The company recently declared a dividend of $0.0371, yielding 1,200.0%, an increase from the previous dividend of $0.03.
• Meren Energy has a market capitalization of $884.92 million and a PE ratio of -2.52, indicating negative earnings.

Meren Energy Inc. (OTCMKTS:AOIFF - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.31 and traded as low as $1.26. Meren Energy shares last traded at $1.31, with a volume of 256,890 shares.

Meren Energy Price Performance

The firm has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.31. The company has a market capitalization of $883.57 million, a PE ratio of -2.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.33.

Meren Energy Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, September 5th. Stockholders of record on Thursday, August 21st will be issued a $0.0371 dividend. The ex-dividend date is Wednesday, August 20th. This represents a dividend yield of 1,200.0%. This is a boost from Meren Energy's previous dividend of $0.03. Meren Energy's dividend payout ratio (DPR) is -26.92%.

About Meren Energy

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.