Africa Oil Corp. (OTCMKTS:AOIFF – Get Rating) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 633,000 shares, a drop of 14.9% from the September 30th total of 743,800 shares. Based on an average daily volume of 401,000 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

AOIFF has been the topic of a number of recent research reports. Scotiabank lifted their price objective on shares of Africa Oil from C$3.25 to C$3.50 in a report on Thursday, October 13th. Barclays lifted their price objective on shares of Africa Oil from SEK 23 to SEK 24 and gave the company an "equal weight" rating in a report on Friday, July 15th.

Africa Oil Trading Down 2.5 %

Shares of AOIFF opened at $2.41 on Friday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 7.09 and a beta of 1.16. Africa Oil has a 1-year low of $1.37 and a 1-year high of $2.52. The company's fifty day simple moving average is $2.08 and its 200 day simple moving average is $1.94.

Africa Oil Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were issued a $0.025 dividend. The ex-dividend date was Thursday, September 8th. This represents a dividend yield of 2.64%. Africa Oil's dividend payout ratio is currently 14.71%.

About Africa Oil

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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.

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