Zacks Investment Research Upgrades Genel Energy (OTCMKTS:GEGYY) to “Buy”

Zacks Investment Research upgraded shares of Genel Energy (OTCMKTS:GEGYY – Get Rating) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. They currently have $2.75 price target on the stock.

According to Zacks, “Genel Energy PLC is an oil and gas exploration and production company. It reserves and resources located primarily in the Kurdistan Region of Iraq. Genel Energy PLC is headquartered in London. “

OTCMKTS GEGYY opened at $2.35 on Tuesday. The stock’s fifty day moving average is $2.05 and its two-hundred day moving average is $1.97. Genel Energy has a fifty-two week low of $1.64 and a fifty-two week high of $2.36.

The business also recently disclosed a dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Tuesday, April 19th will be paid a dividend of $0.1393 per share. This represents a yield of 11.88%. The ex-dividend date of this dividend is Monday, April 18th.

Genel Energy Company Profile (Get Rating)

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).

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