Africa Oil Corp. (OTCMKTS:AOIFF) Sees Large Increase in Short Interest

Africa Oil Corp. (OTCMKTS:AOIFFGet Rating) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,161,900 shares, an increase of 13.8% from the August 15th total of 1,021,100 shares. Based on an average trading volume of 347,500 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

Several research firms have issued reports on AOIFF. Barclays raised their target price on Africa Oil from SEK 23 to SEK 24 and gave the stock an “equal weight” rating in a research note on Friday, July 15th. Scotiabank raised their target price on Africa Oil from C$3.00 to C$3.25 in a research note on Wednesday, June 8th.

Africa Oil Trading Up 1.2 %

Shares of OTCMKTS AOIFF opened at $2.02 on Friday. Africa Oil has a twelve month low of $1.21 and a twelve month high of $2.31. The stock has a fifty day simple moving average of $1.87 and a 200-day simple moving average of $1.86. The stock has a market capitalization of $966.38 million, a PE ratio of 5.95 and a beta of 1.21.

Africa Oil (OTCMKTS:AOIFFGet Rating) last issued its quarterly earnings data on Wednesday, August 10th. The energy company reported $0.01 earnings per share for the quarter.

Africa Oil Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a dividend yield of 2.64%. Africa Oil’s payout ratio is presently 14.71%.

Africa Oil Company Profile

(Get Rating)

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and development 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 assets in Guyana, Kenya, Namibia, Nigeria, South Africa, Ethiopia, and in the Senegal Guinea Bissau Joint Development Zone.

Further Reading

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