Africa Oil Corp. (OTCMKTS:AOIFF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $1.25 price objective on the energy company’s stock. Zacks Investment Research‘s price target points to a potential upside of 2.54% from the company’s current price.

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. “

Separately, ValuEngine upgraded shares of Africa Oil Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th.

Shares of Africa Oil Corp. (AOIFF) traded up 0.669% on Tuesday, reaching $1.219. The company’s stock had a trading volume of 11,236 shares. The firm’s market cap is $556.62 million. Africa Oil Corp. has a 12 month low of $1.20 and a 12 month high of $2.14. The stock has a 50 day moving average of $1.34 and a 200-day moving average of $1.47.

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About Africa Oil Corp.

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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