Raymond James Upgrades Athabasca Oil (TSE:ATH) to Hold

Athabasca Oil (TSE:ATH) was upgraded by equities researchers at Raymond James to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other analysts also recently issued reports on the company. ATB Capital raised their price objective on Athabasca Oil from C$7.00 to C$7.50 in a research report on Thursday, July 25th. Scotiabank set a C$6.50 price target on shares of Athabasca Oil and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Athabasca Oil from C$6.00 to C$5.50 in a report on Tuesday, September 17th. TD Securities cut their target price on Athabasca Oil from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Finally, National Bankshares decreased their price target on Athabasca Oil from C$7.50 to C$6.50 in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Athabasca Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.19.

Athabasca Oil Price Performance

Athabasca Oil stock opened at C$5.12 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 11.60. The company has a 50-day moving average price of C$5.21 and a 200 day moving average price of C$5.14. Athabasca Oil has a 12-month low of C$3.36 and a 12-month high of C$5.72. The stock has a market cap of C$2.78 billion, a P/E ratio of 34.13, a PEG ratio of -0.51 and a beta of 2.05.

Athabasca Oil (TSE:ATH) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas exploration company reported C$0.17 EPS for the quarter. The firm had revenue of C$401.74 million for the quarter. Athabasca Oil had a net margin of 6.32% and a return on equity of 5.04%. Sell-side analysts anticipate that Athabasca Oil will post 0.5403473 earnings per share for the current year.

Insider Transactions at Athabasca Oil

In other news, insider Athabasca Oil Corporation bought 259,700 shares of Athabasca Oil stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of C$5.38 per share, with a total value of C$1,396,848.39. In related news, Senior Officer Karla Dawn Ingoldsby sold 215,200 shares of Athabasca Oil stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$5.57, for a total transaction of C$1,198,879.20. Also, insider Athabasca Oil Corporation acquired 259,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was bought at an average price of C$5.38 per share, with a total value of C$1,396,848.39. Corporate insiders own 0.24% of the company’s stock.

About Athabasca Oil

Athabasca Oil Corporation engages in the exploration, development, and production of thermal and light oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. It operates through Thermal Oil and Light Oil segments. The company's principal properties are in the Greater Kaybob areas near the Town of Fox Creek in northwestern Alberta; and the Leismer/Corner, Hangingstone, and Dover West projects located in the Athabasca region of northeastern Alberta.