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

Africa Oil Corp. (OTCMKTS:AOIFF) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 5,407,500 shares, an increase of 36.7% from the August 31st total of 3,954,300 shares. Based on an average daily trading volume, of 242,900 shares, the days-to-cover ratio is currently 22.3 days.

Africa Oil Stock Performance

Shares of AOIFF stock traded up $0.02 during trading hours on Friday, reaching $1.30. The company had a trading volume of 116,006 shares, compared to its average volume of 110,159. The firm has a market cap of $578.60 million, a PE ratio of 9.26 and a beta of 1.00. The business has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.68. Africa Oil has a one year low of $1.28 and a one year high of $2.06.

Africa Oil Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 9th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, September 9th. Africa Oil’s payout ratio is currently 35.71%.

Africa Oil Company Profile

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