Zacks Investment Research Lowers Africa Oil (AOIFF) to Hold

Africa Oil (OTCMKTS:AOIFF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, December 20th.

According to Zacks, “Africa Oil Corp. is an oil and gas exploration and development company. The Company owns interests in exploration licenses in Kenya, Ethiopia, the Republic of Mali, and Somalia. Africa Oil Corp. is headquartered in Vancouver, Canada. “

Shares of Africa Oil (OTCMKTS:AOIFF) remained flat at $$1.36 during midday trading on Wednesday. The company’s stock had a trading volume of 14,140 shares, compared to its average volume of 55,728. Africa Oil has a one year low of $1.03 and a one year high of $2.14. The stock has a market capitalization of $620.54, a price-to-earnings ratio of -68.00 and a beta of 1.97.

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Africa Oil Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and development company in Kenya and Ethiopia. It holds interests primarily in the East African Rift Basin. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp. in August 2007.

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