Meren Energy (OTCMKTS:AOIFF) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Meren Energy stock has crossed above its 50-day moving average of $1.30, trading at $1.31 with a volume of 293,744 shares.
• The company recently increased its dividend to $0.0371 per share, resulting in a significant yield of 1,200.0%, up from the prior dividend of $0.03.
• Meren Energy has a market capitalization of $884.92 million and a debt-to-equity ratio of 0.42, reflecting a stable financial position.

Meren Energy Inc. (OTCMKTS:AOIFF - ) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.30 and traded as high as $1.32. Meren Energy shares last traded at $1.31, with a volume of 293,744 shares.

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 stock has a market capitalization of $884.92 million, a PE ratio of -2.52 and a beta of 0.53. The firm's 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $1.29.

Meren Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 5th. Shareholders of record on Thursday, August 21st were given a dividend of $0.0371 per share. This represents a yield of 1,200.0%. The ex-dividend date was Wednesday, August 20th. This is a positive change from Meren Energy's previous dividend of $0.03. Meren Energy's dividend 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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