Royal Bank Of Canada Reiterates C$12.00 Price Target for Athabasca Oil (TSE:ATH)

Key Points

• Royal Bank of Canada reiterated a C$12.00 price target and “sector perform” rating for Athabasca Oil, implying 8.79% upside from the C$11.03 share price. The stock carries a consensus “Hold” rating and average target of C$11.43.
• Athabasca Oil reported quarterly revenue of C$306.54 million and earnings of C$0.13 per share, with a 17.68% net margin and 12.57% return on equity.
• Insiders have been buying shares, purchasing 1.10 million shares worth approximately C$11.7 million over the past 90 days; corporate insiders own 0.24% of the company.

Athabasca Oil (TSE:ATH - Get Free Report) has been given a C$12.00 target price by research analysts at Royal Bank Of Canada in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "sector perform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 8.79% from the company's current price.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group set a C$14.00 price objective on Athabasca Oil and gave the stock a "buy" rating in a research note on Thursday, June 4th. Desjardins set a C$12.50 target price on Athabasca Oil and gave the company a "hold" rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Athabasca Oil presently has an average rating of "Hold" and a consensus target price of C$11.43.

Athabasca Oil Stock Performance

Shares of TSE ATH remained flat at C$11.03 during midday trading on Thursday. 760,302 shares of the stock traded hands, compared to its average volume of 2,436,663. The company has a 50-day moving average price of C$10.61 and a two-hundred day moving average price of C$10.63. Athabasca Oil has a 12-month low of C$6.11 and a 12-month high of C$12.86. The company has a debt-to-equity ratio of 10.95, a current ratio of 1.90 and a quick ratio of 1.24. The stock has a market capitalization of C$5.31 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of -0.51 and a beta of -0.17.

Athabasca Oil (TSE:ATH - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share (EPS) for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. The company had revenue of C$306.54 million during the quarter. On average, equities analysts anticipate that Athabasca Oil will post 0.5403473 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Athabasca Oil Corporation acquired 49,900 shares of the business's stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of C$10.18 per share, with a total value of C$507,982.00. Following the acquisition, the insider directly owned 922,900 shares in the company, valued at C$9,395,122. This represents a 5.72% increase in their position. In the last ninety days, insiders purchased 1,101,600 shares of company stock valued at $11,703,306. Corporate insiders own 0.24% of the company's stock.

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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