Athabasca Oil (TSE:ATH) Stock Rating Cut to Market Perform at Raymond James Financial

Key Points

• Raymond James downgraded Athabasca Oil from “outperform” to “market perform” and cut its price target from C$14.00 to C$12.00, implying roughly 1.07% downside from the prior close.
• Analyst sentiment is broadly cautious: Athabasca has a consensus “Hold” rating and an average target price of C$11.44, with one Buy, five Hold, and one Sell rating.
• The stock was trading at C$12.13, while insiders continued buying shares, acquiring 1.15 million shares worth approximately C$12.2 million during the last quarter.

Athabasca Oil (TSE:ATH - Get Free Report) was downgraded by Raymond James Financial from an "outperform" rating to a "market perform" rating in a research 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 prior price objective of C$14.00. Raymond James Financial's price target points to a potential downside of 1.07% from the company's previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets cut Athabasca Oil from an "outperform" rating to a "hold" rating and set a C$12.50 target price on the stock. in a report on Wednesday, September 16th. Royal Bank Of Canada set a C$12.00 price target on shares of Athabasca Oil and gave the company a "sector perform" rating in a research note on Thursday, September 10th. Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the stock a "hold" rating in a report on Friday, July 17th. National Bank Financial lowered shares of Athabasca Oil from an "outperform" rating to a "tender" rating and dropped their price objective for the company from C$13.75 to C$12.00 in a research note on Wednesday, October 7th. Finally, TD Securities lowered shares of Athabasca Oil from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$11.44.

Athabasca Oil Stock Down 0.1%

Athabasca Oil stock traded down C$0.01 during midday trading on Thursday, reaching C$12.13. The stock had a trading volume of 3,503,843 shares, compared to its average volume of 2,770,157. The company has a fifty day moving average price of C$10.88 and a two-hundred day moving average price of C$10.97. Athabasca Oil has a 12 month low of C$6.11 and a 12 month high of C$12.86. 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 company has a market capitalization of C$5.84 billion, a P/E ratio of 25.81, a PEG ratio of -0.51 and a beta of 0.10.

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

Insiders Place Their Bets

In other news, insider Athabasca Oil Corporation acquired 49,500 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were purchased at an average cost of C$10.14 per share, with a total value of C$501,930.00. Following the acquisition, the insider directly owned 742,100 shares of the company's stock, valued at C$7,524,894. The trade was a 7.15% increase in their ownership of the stock. In the last quarter, insiders acquired 1,150,600 shares of company stock worth $12,167,863. 0.24% of the stock is currently owned by company insiders.

Athabasca Oil Company Profile

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'.

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