Athabasca Oil (TSE:ATH) Price Target Raised to C$7.00

Key Points

• Royal Bank of Canada has increased its price target for Athabasca Oil from C$6.50 to C$7.00, suggesting a potential upside of 2.34% from its current trading price.
• Scotiabank downgraded its rating on Athabasca Oil from "strong-buy" to "hold," setting a new price objective of C$6.50, contributing to a consensus rating of "Hold" among analysts.
• Athabasca Oil's market capitalization is currently C$3.40 billion, with recent trading activity showing the stock price reaching C$6.84 amidst significant trade volume.

Athabasca Oil (TSE:ATH - Get Free Report) had its price target hoisted by research analysts at Royal Bank Of Canada from C$6.50 to C$7.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's price target indicates a potential upside of 2.34% from the stock's current price.

Separately, Scotiabank cut shares of Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 price objective for the company. in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Athabasca Oil has a consensus rating of "Hold" and an average target price of C$6.50.

Athabasca Oil Stock Performance

TSE:ATH traded up C$0.04 during trading hours on Tuesday, hitting C$6.84. 1,043,496 shares of the company traded hands, compared to its average volume of 2,409,239. The firm has a 50-day moving average of C$6.17 and a 200 day moving average of C$5.58. The stock has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of -0.51 and a beta of 0.99. Athabasca Oil has a twelve month low of C$4.05 and a twelve month high of C$6.87. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55.

Insider Activity

In other news, insider Athabasca Oil Corporation acquired 158,200 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of C$5.89 per share, with a total value of C$932,414.98. Insiders own 0.24% of the company's stock.

About Athabasca Oil

Athabasca Oil Corp is an energy company. It is focused on the exploration, development, and production of light oil and liquids-rich natural gas. The company organizes its business under two operational segments, Light Oil and Thermal Oil. It generates maximum revenue from the Thermal Oil segment. Thermal Oil includes the exploration, development, and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta.

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