Africa Oil (OTCMKTS:AOIFF) Upgraded at Barclays

Barclays upgraded shares of Africa Oil (OTCMKTS:AOIFF – Get Rating) from an equal weight rating to an overweight rating in a research report released on Tuesday, The Fly reports.

Separately, Scotiabank upgraded Africa Oil from a sector perform rating to an outperform rating in a research report on Wednesday, March 22nd.

Africa Oil Trading Up 3.2 %

Shares of OTCMKTS:AOIFF opened at $2.09 on Tuesday. Africa Oil has a 12-month low of $1.47 and a 12-month high of $2.65. The business’s fifty day simple moving average is $2.06 and its 200-day simple moving average is $2.05. The company has a market capitalization of $963.94 million, a PE ratio of -10.97 and a beta of 1.26.

Africa Oil (OTCMKTS:AOIFF – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The energy company reported ($0.39) earnings per share (EPS) for the quarter.

Africa Oil Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 13th were issued a dividend of $0.025 per share. This represents a dividend yield of 2.26%. The ex-dividend date was Friday, March 10th. Africa Oil’s dividend payout ratio is currently -26.32%.

About Africa Oil

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Africa Oil Corp. is an oil and gas company, which engages in the acquisition, exploration, development, and production associated with oil and gas assets. It focuses on producing and development assets in deep-water offshore Nigeria, and development assets in Kenya. Its portfolio of exploration assets includes Guyana, Kenya, Namibia, Nigeria, South Africa, and in the Senegal Guinea Bissau Joint Development Zone (AGC).