Africa Oil Corp. (OTCMKTS:AOIFF – Get Rating) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 367,200 shares, a decrease of 9.8% from the November 15th total of 407,100 shares. Based on an average trading volume of 244,400 shares, the short-interest ratio is presently 1.5 days.

Africa Oil Price Performance

Shares of OTCMKTS:AOIFF opened at $1.80 on Tuesday. The firm has a market capitalization of $846.11 million, a price-to-earnings ratio of 5.00 and a beta of 1.23. The business's 50 day simple moving average is $2.23 and its 200-day simple moving average is $1.99. Africa Oil has a 12 month low of $1.37 and a 12 month high of $2.65.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their price objective on shares of Africa Oil from C$3.25 to C$3.50 in a research note on Thursday, October 13th.

About Africa Oil

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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