Athabasca Oil (TSE:ATH) Downgraded by Raymond James Financial to Market Perform

Athabasca Oil (TSE:ATH) was downgraded by investment analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Thursday, BayStreet reports. They currently have a C$12.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of C$14.00. Raymond James Financial’s price target points to a potential downside of 1.07% from the stock’s current price.

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

Athabasca Oil Stock Performance

Shares of ATH stock traded down C$0.01 during trading on Thursday, hitting C$12.13. The company’s stock had a trading volume of 3,503,843 shares, compared to its average volume of 2,770,157. The company has a market cap of C$5.84 billion, a PE ratio of 25.81, a P/E/G ratio of -0.51 and a beta of 0.10. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 10.95. The business has a fifty day moving average of C$10.88 and a 200-day moving average of C$10.97. Athabasca Oil has a 52 week low of C$6.11 and a 52 week high of C$12.86.

Athabasca Oil (TSE:ATH) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 EPS for the quarter. The company had revenue of C$306.54 million during the quarter. Athabasca Oil had a return on equity of 12.57% and a net margin of 17.68%. As a group, research analysts anticipate that Athabasca Oil will post 0.54 earnings per share for the current year.

Insider Activity at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation acquired 48,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was bought at an average cost of C$10.28 per share, with a total value of C$500,636.00. Following the acquisition, the insider owned 985,700 shares in the company, valued at approximately C$10,132,996. This represents a 5.20% increase in their ownership of the stock. In the last 90 days, insiders have purchased 1,150,600 shares of company stock worth $12,167,863. Corporate insiders own 0.24% of the company’s stock.

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’.