Athabasca Oil (TSE:ATH) Stock Bumped Down to Hold by Raymond James Financial

Athabasca Oil (TSE:ATH) was downgraded by investment analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a C$12.00 price target on the oil and gas exploration company’s stock, down from their previous price target of C$14.00. Raymond James Financial’s target price indicates a potential downside of 0.58% from the stock’s current price.

A number of other research analysts also recently issued reports on ATH. Royal Bank Of Canada set a C$12.00 price target on shares of Athabasca Oil and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. National Bank Financial cut shares of Athabasca Oil from an “outperform” rating to a “tender” rating and lowered their price target for the stock from C$13.75 to C$12.00 in a report on Wednesday, October 7th. TD downgraded shares of Athabasca Oil from a “hold” rating to a “tender” rating and increased their price objective for the company from C$11.00 to C$12.00 in a research report on Tuesday, October 6th. BMO Capital Markets downgraded shares of Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 price objective on the stock. in a research report on Wednesday, September 16th. Finally, Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the company a “hold” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Athabasca Oil currently has a consensus rating of “Hold” and an average target price of C$11.44.

Athabasca Oil Stock Performance

Shares of ATH opened at C$12.07 on Thursday. Athabasca Oil has a 1 year low of C$6.11 and a 1 year high of C$12.86. The stock has a market capitalization of C$5.81 billion, a PE ratio of 25.68, a PEG ratio of -0.51 and a beta of 0.10. The company has a debt-to-equity ratio of 10.95, a quick ratio of 1.24 and a current ratio of 1.90. The stock has a 50-day simple moving average of C$10.92 and a 200-day simple moving average of C$10.98.

Athabasca Oil (TSE:ATH) last released its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share for the quarter. The firm had revenue of C$306.54 million for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. On average, analysts predict that Athabasca Oil will post 0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Athabasca Oil news, insider Athabasca Oil Corporation bought 48,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was purchased at an average price of C$10.28 per share, for a total transaction of C$500,636.00. Following the completion of the purchase, the insider directly owned 985,700 shares in the company, valued at C$10,132,996. This trade represents a 5.20% increase in their ownership of the stock. Insiders purchased a total of 1,150,600 shares of company stock worth $12,167,863 in the last three months. 0.24% of the stock is owned by insiders.

About Athabasca Oil

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol ‘ATH’.