Athabasca Oil (TSE:ATH) Downgraded by BMO Capital Markets to “Market Perform”

Athabasca Oil (TSE:ATH) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, BayStreet reports. They presently have a C$12.50 target price on the oil and gas exploration company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 16.60% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group set a C$14.00 price objective on shares of Athabasca Oil and gave the company a “buy” rating in a research report 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 note on Friday, July 17th. Finally, Royal Bank Of Canada set a C$12.00 target price on Athabasca Oil and gave the company a “sector perform” rating in a report on Thursday, September 10th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Athabasca Oil currently has an average rating of “Hold” and an average target price of C$11.56.

Athabasca Oil Stock Performance

ATH traded down C$0.73 during trading hours on Wednesday, hitting C$10.72. 2,711,314 shares of the stock were exchanged, compared to its average volume of 2,434,320. The stock has a market cap of C$5.16 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of -0.51 and a beta of -0.17. The stock has a 50-day simple moving average of C$10.69 and a 200-day simple moving average of C$10.70. The company has a debt-to-equity ratio of 10.95, a current ratio of 1.90 and a quick ratio of 1.24. Athabasca Oil has a 12 month low of C$6.11 and a 12 month high of C$12.86.

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

Insider Buying and Selling at Athabasca Oil

In other news, insider Athabasca Oil Corporation acquired 46,900 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of C$10.68 per share, for a total transaction of C$500,892.00. Following the transaction, the insider directly owned 994,200 shares in the company, valued at C$10,618,056. This trade represents a 4.95% increase in their position. Over the last 90 days, insiders have bought 1,101,600 shares of company stock valued at $11,703,306. 0.24% of the stock is owned by company insiders.

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’.