Africa Oil Corp (AOIFF Quick QuoteAOIFF - Free Report) is an oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AOIFF’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Africa Oil could be a solid choice for investors.

Current Quarter Estimates for AOIFF

In the past 30 days, 1 estimate has gone higher for Africa Oil, with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of a penny per share 30 days ago, to breakeven today, a significant move.

Current Year Estimates for AOIFF

Meanwhile, Africa Oil’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, with no downward revisions. The consensus estimate trend has also seen a boost for this time frame, narrowing down from a loss of 7 cents per share 30 days ago to a loss of 6 cents per share today, an increase of 25%.

Bottom Line

The stock has also started to move higher lately, adding 16.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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