Meren Energy (OTCMKTS:AOIFF) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Meren Energy shares have fallen below their 200-day moving average, trading at $1.21 compared to the average of $1.29, with a volume of 170,406 shares.
• The company recently increased its dividend to $0.0371 per share, resulting in a remarkable yield of 1,200.0%.
• Meren Energy has a low debt-to-equity ratio of 0.42, and its market capitalization stands at $817.37 million.

Shares of Meren Energy Inc. (OTCMKTS:AOIFF - ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.29 and traded as low as $1.21. Meren Energy shares last traded at $1.21, with a volume of 170,406 shares changing hands.

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 firm has a market capitalization of $817.37 million, a price-to-earnings ratio of -2.33 and a beta of 0.53. The company has a 50-day moving average of $1.29 and a 200-day moving average of $1.29.

Meren Energy Increases Dividend

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

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