Africa Oil Corp (AOIFF)

[douginil]

Africa Oil Corp. Cranks Up The Returns

Oct. 09, 2022 4:20 AM ET Africa Oil Corp. (AOI:CA), AOIFF2 Comments

- Africa Oil Corp. is now committing to potential double-digit shareholder returns over the next year.
- The company's core Prime Oil and Gas remains incredibly profitable while being set up to provide increased shareholder rewards.
- The company has a low risk but diversified exploration portfolio which will enable substantial returns.
- Looking for higher risk/reward options trading ideas? I offer this and much more at my exclusive investing ideas service

Africa Oil Corp. (OTCPK:AOIFF) has actually outperformed many other oil companies during some of the recent weakness. The company's market capitalization remains over $1 billion, highlighting its financial strength. As we'll see throughout this article, on top of that, the company continues to have substantial room to outperform with its portfolio.
Africa Oil Corp. Share Buyback

Africa Oil Corp. has announced a new share buyback program highlighting the strength of its cash flow.

From the September 27-30 period, the company repurchased roughly 2 million shares of stock publicly, for ~$3 million USD total, or 0.3% of its outstanding shares. That's a share repurchase rate of almost 40% annualized but it's also one that the company can comfortably afford to keep going given its massive cash flow.

The company has the ability to repurchase roughly 8% of its outstanding shares over the upcoming 12 months. That's something that the company can comfortably afford and something that we expect it to take advantage of during market downturns. That continued ability to drive shareholder returns makes the company a valuable investment.


Read more at:
https://seekingalpha.com/article/4545490-africa-oil-corporation-cranks-up-returns?mailingid=29313589&messageid=2850&serial=29313589.2766&utm_campaign=rta-author-article&utm_medium=email&utm_source=seeking_alpha&utm_term=29313589.2766