Africa Oil (OTCMKTS:AOIFF) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Africa Oil Corp. (OTCMKTS:AOIFF) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.39 and traded as low as $1.34. Africa Oil shares last traded at $1.35, with a volume of 76,621 shares traded.

Analysts Set New Price Targets

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

Africa Oil Price Performance

The company has a quick ratio of 8.99, a current ratio of 8.99 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $1.35 and a 200 day moving average of $1.39. The stock has a market capitalization of $589.41 million, a PE ratio of -1.61 and a beta of 1.01.

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.