Meren Energy (OTCMKTS:AOIFF) Shares Gap Up - Here's Why

Key Points

• Meren Energy's share price opened at $1.29 after closing at $1.22, with a volume of 119,006 shares traded.
• The company has announced a recent dividend increase to $0.0371 from $0.03, representing a substantial yield of 1,200.0%.
• Meren Energy has a current market cap of $810.61 million and maintains a debt-to-equity ratio of 0.42.

Meren Energy Inc. (OTCMKTS:AOIFF - )'s share price gapped up prior to trading on Friday . The stock had previously closed at $1.22, but opened at $1.29. Meren Energy shares last traded at $1.22, with a volume of 119,006 shares.

Meren Energy Stock Down 1.4%

The business's 50 day moving average is $1.29 and its 200-day moving average is $1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.25 and a quick ratio of 1.05. The company has a market cap of $810.61 million, a PE ratio of -2.31 and a beta of 0.53.

Meren Energy Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 5th. Investors of record on Thursday, August 21st were paid a $0.0371 dividend. This is an increase from Meren Energy's previous dividend of $0.03. This represents a yield of 1,200.0%. The ex-dividend date was Wednesday, August 20th. Meren Energy's payout ratio is presently -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.

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