Insider Selling: Africa Oil Corp (AOI) Director Sells 20,000 Shares of Stock

Africa Oil Corp (CVE:AOI) Director Bryan M. Benitz sold 20,000 shares of Africa Oil stock in a transaction on Thursday, April 5th. The stock was sold at an average price of C$1.19, for a total value of C$23,800.00.

Shares of CVE:AOI traded up C$0.30 on Monday, hitting C$27.50. 172,377 shares of the company’s stock were exchanged, compared to its average volume of 182,281. Africa Oil Corp has a 12 month low of C$9.85 and a 12 month high of C$30.70.

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Several analysts have recently weighed in on AOI shares. CSFB decreased their target price on Africa Oil from C$1.80 to C$1.44 in a research report on Tuesday, March 13th. Royal Bank of Canada downgraded Africa Oil from an “outperform” rating to a “sector perform” rating in a research report on Friday, March 9th.

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