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

Zacks Investment Research upgraded shares of Genel Energy (OTCMKTS:GEGYY – Get Rating) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. The firm currently has $2.25 price objective 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. “

GEGYY stock opened at $2.21 on Tuesday. The company’s 50 day simple moving average is $2.23 and its 200-day simple moving average is $1.99. Genel Energy has a 12 month low of $1.64 and a 12 month high of $2.46. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.46.

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

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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