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

Meren Energy Inc. (OTCMKTS:AOIFF)’s share price 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 changing hands.

Meren Energy Stock Performance

The firm’s fifty day moving average price is $1.30 and its 200 day moving average price is $1.29. 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 $884.92 million, a PE ratio of -2.52 and a beta of 0.53.

Meren Energy Increases Dividend

The business also recently declared a dividend, which was paid on Friday, September 5th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.0371 per share. The ex-dividend date was Wednesday, August 20th. This represents a dividend yield of 1,200.0%. This is an increase 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.