Meren Energy (OTCMKTS:AOIFF) Shares Cross Below 200-Day Moving Average - Here's Why

Key Points

• Meren Energy's stock price has crossed below its 200-day moving average, currently trading at $1.26, down from a moving average of $1.30.
• The company recently increased its dividend to $0.0371 per share, leading to a substantial yield of 1,200%.
• Meren Energy has a market capitalization of $849.12 million and a debt-to-equity ratio of 0.42, indicating a relatively stable financial position.

Meren Energy Inc. (OTCMKTS:AOIFF - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.30 and traded as low as $1.25. Meren Energy shares last traded at $1.26, with a volume of 16,991 shares traded.

Meren Energy Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $1.26 and a 200-day moving average price of $1.30. The firm has a market capitalization of $888.30 million, a price-to-earnings ratio of -2.53 and a beta of 0.60.

Meren Energy Increases Dividend

The business also recently announced a dividend, which was paid on Friday, September 5th. Stockholders of record on Thursday, August 21st were issued a $0.0371 dividend. This represents a dividend yield of 1,200.0%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a boost from Meren Energy's previous dividend of $0.03. Meren Energy's payout ratio is currently -28.85%.

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.