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Africa Oil Corp. (TSE:AOI) Receives Consensus Recommendation of "Buy" from Brokerages
Posted Date 2016/03/01 04:16

Shares of Africa Oil Corp. (TSE:AOI) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Analyst Ratings Net reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$3.53.

 

Several analysts have issued reports on AOI shares. Dundee Securities upped their price objective on Africa Oil Corp. from C$2.60 to C$2.70 and gave the company a “buy” rating in a research note on Monday. Renaissance Capital cut their price objective on Africa Oil Corp.

 

from C$3.40 to C$2.50 and set a “hold” rating on the stock in a research note on Monday, November 9th. FirstEnergy Capital upped their price objective on Africa Oil Corp. from C$2.70 to C$3.80 and gave the company an “outperform” rating in a research note on Tuesday, November 10th. Scotiabank upped their price objective on Africa Oil Corp.

 

from C$3.50 to C$3.75 and gave the company a “sector perform” rating in a research note on Tuesday, November 10th. Finally, Canaccord Genuity increased their price target on Africa Oil Corp. to C$4.50 and gave the stock a “speculative buy” rating in a research report on Tuesday, November 10th.

 


In related news, Director Keith Charles Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 21st. The stock was sold at an average price of C$2.01, for a total value of C$201,000.00.
Africa Oil Corp. (TSE:AOI) traded up 1.76% during mid-day trading on Monday, reaching $1.73. The company’s stock had a trading volume of 340,850 shares. Africa Oil Corp. has a 52 week low of $1.45 and a 52 week high of $2.81.

 

The firm’s 50 day moving average price is $1.72 and its 200 day moving average price is $1.82. The firm’s market capitalization is $789.60 million.

 


Africa Oil Corp. (TSE:AOI) is a Canada-based oil and gas exploration and development company. The Company has oil and gas interest in Kenya, Ethiopia and, through Horn Petroleum, Puntland (Somalia). AOC’s blocks/areas include Block 9, Block 10BB, Block 12A, Block 13T, Block 10BA, Blocks 7, Blocks 8, Rift Basin, Adigala, South Omo, Dharoor Valley and Nugaal Valley.



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