Meren Energy (OTCMKTS:AOIFF) Share Price Crosses Below 200-Day Moving Average - What's Next?

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.

Shares of Meren Energy Inc. (OTCMKTS:AOIFF - Get Free Report) 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 changing hands.

Meren Energy Stock Up 0.2%

The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.30. The firm has a market capitalization of $872.76 million, a PE ratio of -2.48 and a beta of 0.60.

Meren Energy Increases Dividend

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

Meren Energy Company Profile

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.