Athabasca Oil (TSE:ATH) Upgraded by Raymond James Financial to “Outperform” Rating

Athabasca Oil (TSE:ATH) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a C$13.00 price target on the oil and gas exploration company’s stock, up from their previous price target of C$8.00. Raymond James Financial’s price target would indicate a potential upside of 18.29% from the company’s current price.

Several other research analysts have also weighed in on ATH. Desjardins lowered their price objective on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating on the stock in a research note on Friday, December 12th. Scotiabank lifted their price target on Athabasca Oil from C$7.00 to C$8.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. National Bank Financial upped their price objective on Athabasca Oil from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Royal Bank Of Canada cut Athabasca Oil from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$7.00 to C$9.00 in a research report on Monday, February 23rd. Finally, TD Securities lifted their target price on Athabasca Oil from C$6.50 to C$8.00 and gave the stock a “hold” rating in a research note on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$9.21.

Athabasca Oil Stock Up 2.8%

Shares of TSE ATH traded up C$0.30 during trading hours on Monday, hitting C$10.99. The company had a trading volume of 3,267,037 shares, compared to its average volume of 2,773,693. Athabasca Oil has a 1-year low of C$4.05 and a 1-year high of C$11.16. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 11.38. The firm’s 50 day moving average is C$8.66 and its 200-day moving average is C$7.57. The stock has a market capitalization of C$5.27 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of -0.51 and a beta of 0.51.

Athabasca Oil (TSE:ATH) last issued its earnings results on Thursday, March 5th. The oil and gas exploration company reported C$0.10 earnings per share for the quarter. Athabasca Oil had a net margin of 18.29% and a return on equity of 13.86%. On average, analysts expect that Athabasca Oil will post 0.5403473 earnings per share for the current fiscal year.

About Athabasca Oil

Athabasca Oil Corp is an energy company. It is focused on the exploration, development, and production of light oil and liquids-rich natural gas. The company organizes its business under two operational segments, Light Oil and Thermal Oil. It generates maximum revenue from the Thermal Oil segment. Thermal Oil includes the exploration, development, and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta.