Genel Energy plc, through its subsidiaries, operates as an independent oil and gas exploration and production company. It operates through two segments, Production and Pre-production. The Production segment holds a 25% working interest in the Tawke PSC; 44% working interest in the Taq Taq PSC; and 30% working interest in the Sarta PSC located in the Kurdistan Region of Iraq (KRI). The Pre-Production segment holds a 40% working interest Qara Dagh PSC located in KRI; 50% working interest in Odewayne and 51% working interest in SL10B13 located in Somaliland; and 75% working interest in Lagzira in Morocco. As of December 31, 2021, the company had 63 millions of barrels (MMbbls) of proven net working interest reserves, and 104 MMbbls of proven plus probable net working interest reserves. Genel Energy plc is headquartered in London, the United Kingdom.
Genel Energy Stock Up 0.7 %
Shares of LON:GENL traded up GBX 1 ($0.01) during trading on Friday, hitting GBX 134.40 ($1.65). 422,681 shares of the company were exchanged, compared to its average volume of 430,708. The firm's 50 day moving average price is GBX 142.63 and its 200-day moving average price is GBX 157.67. The stock has a market capitalization of £371.78 million and a P/E ratio of -1.48. Genel Energy has a 12-month low of GBX 113.85 ($1.40) and a 12-month high of GBX 200 ($2.45). The company has a debt-to-equity ratio of 47.86, a current ratio of 4.41 and a quick ratio of 4.41.
Genel Energy Cuts Dividend
The firm also recently announced a dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 15th. This represents a dividend yield of 3.36%. Genel Energy's payout ratio is -0.19%.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. decreased their price target on shares of Genel Energy from GBX 182 ($2.23) to GBX 172 ($2.11) and set a "neutral" rating for the company in a research note on Wednesday.