Africa Oil (OTCMKTS:AOIFF) Sets New 52-Week Low – Time to Sell?

Africa Oil Corp. (OTCMKTS:AOIFF)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $1.13 and last traded at $1.23, with a volume of 352852 shares changing hands. The stock had previously closed at $1.18.

Analysts Set New Price Targets

Separately, Barclays upgraded Africa Oil to a “strong-buy” rating in a report on Tuesday, January 21st.

Africa Oil Price Performance

The firm has a fifty day moving average of $1.34 and a 200 day moving average of $1.35. The company has a market capitalization of $827.94 million, a P/E ratio of -1.46 and a beta of 0.70. The company has a current ratio of 8.99, a quick ratio of 8.99 and a debt-to-equity ratio of 0.01.

Africa Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be given a $0.0371 dividend. The ex-dividend date is Thursday, March 27th. This represents a $0.15 annualized dividend and a yield of 12.07%. Africa Oil’s payout ratio is -22.58%.

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.