One stock that might be an intriguing choice for investors right now is Africa Oil Corp (AOIFF). This is because this security in the oil exploration and production space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the oil exploration and production space as it currently has a Zacks Industry Rank of 63 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Africa Oil is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have narrowed from a loss of 5 cents per share to a loss of 4 cents per share, while current year estimates have narrowed from a loss of 11 cents per share to a loss of 10 cents per share. This has helped AOIFF to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position.
So, if you are looking for a decent pick in a strong industry, consider Africa Oil. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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AFRICA OIL CORP (AOIFF): Free Stock Analysis Report
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