Athabasca Oil (TSE:ATH) Cut to “Hold” at Raymond James Financial

Raymond James Financial cut shares of Athabasca Oil (TSE:ATH) from a moderate buy rating to a hold rating in a report released on Thursday, MarketBeat.com reports. Raymond James Financial currently has C$12.00 target price on the oil and gas exploration company’s stock, down from their prior target price of C$14.00.

Several other research analysts have also recently issued reports on ATH. Royal Bank Of Canada set a C$12.00 price target on Athabasca Oil and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. BMO Capital Markets lowered Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 price target on the stock. in a report on Wednesday, September 16th. National Bank Financial downgraded shares of Athabasca Oil from an “outperform” rating to a “tender” rating and reduced their price objective for the stock from C$13.75 to C$12.00 in a report on Wednesday, October 7th. TD Securities downgraded shares of Athabasca Oil from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, TD lowered shares of Athabasca Oil from a “hold” rating to a “tender” rating and increased their target price for the company from C$11.00 to C$12.00 in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$11.44.

Athabasca Oil Price Performance

TSE ATH opened at C$12.15 on Thursday. Athabasca Oil has a 52 week low of C$6.15 and a 52 week 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 stock has a market cap of C$5.85 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of -0.51 and a beta of 0.10. The company has a 50-day moving average price of C$10.96 and a two-hundred day moving average price of C$10.99.

Athabasca Oil (TSE:ATH) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 EPS for the quarter. The company had revenue of C$306.54 million for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. Analysts forecast that Athabasca Oil will post 0.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Athabasca Oil Corporation purchased 49,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were purchased at an average price of C$10.14 per share, with a total value of C$501,930.00. Following the purchase, the insider owned 742,100 shares of the company’s stock, valued at C$7,524,894. This trade represents a 7.15% increase in their position. Over the last 90 days, insiders bought 1,150,600 shares of company stock valued at $12,167,863. Company insiders own 0.24% of the company’s stock.

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’.