Africa Oil Corp. (OTCMKTS:AOIFF) Sees Large Drop in Short Interest

Africa Oil Corp. (OTCMKTS:AOIFF) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 4,134,800 shares, a decline of 23.5% from the September 15th total of 5,407,500 shares. Based on an average daily trading volume, of 220,700 shares, the short-interest ratio is presently 18.7 days.

Africa Oil Trading Up 0.8 %

OTCMKTS:AOIFF opened at $1.33 on Monday. The stock has a 50 day moving average of $1.42 and a 200-day moving average of $1.66. The firm has a market capitalization of $593.55 million, a PE ratio of 9.50 and a beta of 1.00. Africa Oil has a 52 week low of $1.28 and a 52 week high of $2.00.

Africa Oil Announces Dividend

The company also recently declared a dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 9th were given a $0.025 dividend. The ex-dividend date was Monday, September 9th. Africa Oil’s dividend payout ratio (DPR) is presently 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.