Short Interest in Africa Oil Corp. (OTCMKTS:AOIFF) Drops By 9.5%

Africa Oil Corp. (OTCMKTS:AOIFF) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 3,742,600 shares, a decline of 9.5% from the September 30th total of 4,134,800 shares. Based on an average daily trading volume, of 192,100 shares, the days-to-cover ratio is presently 19.5 days.

Africa Oil Price Performance

OTCMKTS:AOIFF opened at $1.28 on Friday. The firm has a market capitalization of $567.06 million, a price-to-earnings ratio of -14.22 and a beta of 1.00. The business has a fifty day moving average price of $1.36 and a 200-day moving average price of $1.61. Africa Oil has a one year low of $1.25 and a one year high of $1.99.

Africa Oil Announces Dividend

The company also recently announced a dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 9th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, September 9th. Africa Oil’s payout ratio is -55.56%.

About Africa Oil

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.