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

Key Points

• Meren Energy stock has fallen below its 200-day moving average, trading at $1.32 after reaching a low of $1.30 during the latest session.
• The company recently increased its dividend significantly to $0.0371, resulting in a remarkable 1,200.0% yield for investors.
• Meren Energy has a current market capitalization of $894.38 million and a debt-to-equity ratio of 0.42, reflecting its financial health.

Meren Energy Inc. (OTCMKTS:AOIFF - ) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.30 and traded as low as $1.30. Meren Energy shares last traded at $1.32, with a volume of 62,120 shares traded.

Meren Energy Price 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 cap of $894.38 million, a price-to-earnings ratio of -2.55 and a beta of 0.53. The company's 50-day moving average is $1.29 and its 200-day moving average is $1.30.

Meren Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 5th. Investors of record on Thursday, August 21st were paid a $0.0371 dividend. This represents a yield of 1,200.0%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change 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.

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