Africa Oil (TSX:AOI) Momentum Rank : 4 (As of Apr. 25, 2024)

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What is Africa Oil Momentum Rank?

Africa Oil has the Momentum Rank of 4.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Africa Oil's Momentum Rank

For the Oil & Gas E&P subindustry, Africa Oil's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Africa Oil's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Africa Oil's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Africa Oil's Momentum Rank falls into.

Africa Oil Momentum Rank Related Terms

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Africa Oil (TSX:AOI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Africa Oil Corp (TSX:AOI) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

AOIFF:USA AOI:Sweden 0QVL:UK AFZ:Germany

Address

885 West Georgia Street, Suite 2000, Vancouver, BC, CAN, V6C 3E8

Website

https://www.africaoilcorp.com

Africa Oil Corp is an international oil and gas exploration company. It is an exploration stage enterprise that participates in oil and gas projects located in emerging markets, in sub-Saharan Africa. The company operates in the business segment of international oil and gas exploration, and geographically, it operates in Kenya and Ethiopia.

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