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

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 traded.

Meren Energy Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.25 and a quick ratio of 1.05. The company has a 50-day simple moving average of $1.29 and a two-hundred day simple moving average of $1.29. The stock has a market capitalization of $817.37 million, a price-to-earnings ratio of -2.33 and a beta of 0.53.

Meren Energy Increases Dividend

The firm 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. This represents a dividend yield of 1,200.0%. This is a positive change from Meren Energy’s previous dividend of $0.03. 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.