Africa Oil Corp. (OTCMKTS:AOIFF – Get Rating) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 743,800 shares, a drop of 39.3% from the September 15th total of 1,224,800 shares. Based on an average daily trading volume, of 314,000 shares, the days-to-cover ratio is presently 2.4 days.
Africa Oil Trading Up 3.4 %
OTCMKTS:AOIFF traded up $0.07 during mid-day trading on Thursday, hitting $2.26. The stock had a trading volume of 88,645 shares, compared to its average volume of 163,768. The stock has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $1.89. The company has a market capitalization of $1.08 billion, a PE ratio of 6.65 and a beta of 1.16. Africa Oil has a twelve month low of $1.37 and a twelve month high of $2.32.
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Africa Oil (OTCMKTS:AOIFF – Get Rating) last issued its earnings results on Wednesday, August 10th. The energy company reported $0.01 earnings per share for the quarter.
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 dividend of $0.025 per share. The ex-dividend date was Thursday, September 8th. This represents a yield of 2.64%. Africa Oil's payout ratio is currently 14.71%.
Wall Street Analysts Forecast Growth
Separately, Barclays raised their price objective on shares of Africa Oil from SEK 23 to SEK 24 and gave the company an "equal weight" rating in a research note on Friday, July 15th.
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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