Meren Energy (OTCMKTS:AOIFF) Shares Gap Up - Should You Buy?

Key Points

• Meren Energy's share price opened at $1.40, a slight increase from its previous close of $1.34, with a trading volume of 6,796 shares.
• The company increased its dividend from $0.03 to $0.0371, resulting in an impressive dividend yield of 1,200.0%.
• Meren Energy holds interests in producing and development assets in deep-water Nigeria, as well as exploration assets in locations including Kenya, Namibia, and South Africa.

Meren Energy Inc. (OTCMKTS:AOIFF - )'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $1.34, but opened at $1.40. Meren Energy shares last traded at $1.34, with a volume of 6,796 shares.

Meren Energy Price Performance

The firm has a market cap of $898.43 million, a PE ratio of -2.56 and a beta of 0.53. The stock's fifty day moving average price is $1.29 and its 200-day moving average price is $1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.25 and a quick ratio of 1.05.

Meren Energy Increases Dividend

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

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