Meren Energy (TSE:MER) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of Meren Energy (TSE:MER) to a hold rating in a research note published on Monday,Zacks.com reports.

Meren Energy Stock Performance

TSE:MER opened at C$2.20 on Monday. Meren Energy has a 12-month low of C$1.59 and a 12-month high of C$2.40. The stock has a market capitalization of C$1.49 billion, a price-to-earnings ratio of -44.00 and a beta of 0.12.

Meren Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, April 7th will be paid a dividend of $0.0371 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.15 annualized dividend and a dividend yield of 6.7%. Meren Energy’s dividend payout ratio is presently -296.80%.

Meren Energy Company Profile

Meren is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa.