Scotiabank Boosts Africa Oil (OTCMKTS:AOIFF) Price Target to C$2.25

Africa Oil (OTCMKTS:AOIFF) had its price objective upped by stock analysts at Scotiabank from C$1.75 to C$2.25 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “sector perform” rating on the energy company’s stock.

Several other brokerages also recently commented on AOIFF. Barclays restated an “equal weight” rating on shares of Africa Oil in a research note on Friday, October 8th. BMO Capital Markets boosted their target price on shares of Africa Oil from C$1.75 to C$2.00 and gave the company an “outperform” rating in a research note on Friday, August 13th.

Africa Oil stock traded up $0.07 on Thursday, hitting $1.69. The company’s stock had a trading volume of 78,807 shares, compared to its average volume of 52,645. The firm has a market cap of $800.35 million, a P/E ratio of 4.57 and a beta of 1.75. The company has a fifty day moving average price of $1.33 and a 200-day moving average price of $1.11. Africa Oil has a one year low of $0.66 and a one year high of $1.75.

Africa Oil (OTCMKTS:AOIFF) last announced its quarterly earnings results on Thursday, August 12th. The energy company reported $0.08 earnings per share (EPS) for the quarter.

About Africa Oil

Africa Oil Corp. is an oil and gas company, which engages in the exploration of oil and gas properties. It focuses on producing and development assets in deep-water offshore Nigeria, and development assets in Kenya. The firm’s portfolio of exploration assets are located in Guyana, Kenya, Namibia, Nigeria, South Africa, and in the Senegal Guinea Bissau Joint Development Zone.

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