Short Interest in Africa Oil Corp. (OTCMKTS:AOIFF) Rises By 36.7%

Africa Oil Corp. (OTCMKTS:AOIFF) saw a large increase in short interest in 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 trading volume of 242,900 shares, the days-to-cover ratio is currently 22.3 days.

Africa Oil Stock Performance

Shares of AOIFF traded down $0.04 during trading hours on Friday, hitting $1.28. 278,927 shares of the company were exchanged, compared to its average volume of 110,128. The firm’s 50 day moving average is $1.51 and its 200-day moving average is $1.68. Africa Oil has a 52 week low of $1.28 and a 52 week high of $2.33. The company has a market cap of $571.23 million, a PE ratio of 9.14 and a beta of 1.00.

Africa Oil Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 9th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Monday, September 9th. Africa Oil’s dividend payout ratio (DPR) is 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.