Zacks Investment Research lowered shares of Africa Oil (OTCMKTS:AOIFF) from a buy rating to a hold rating in a research report released on Wednesday.

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. “

Shares of Africa Oil (OTCMKTS AOIFF) traded down $0.01 during trading on Wednesday, hitting $1.09. 149,957 shares of the company traded hands, compared to its average volume of 25,548. Africa Oil has a one year low of $1.03 and a one year high of $2.14.

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Africa Oil Company Profile

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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