Athabasca Oil (TSE:ATH) Releases Quarterly Earnings Results

Athabasca Oil (TSE:ATH) issued its quarterly earnings results on Wednesday. The oil and gas exploration company reported C$0.16 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$360.89 million for the quarter. Athabasca Oil had a net margin of 17.03% and a return on equity of 12.76%.

Athabasca Oil Trading Up 0.1%

TSE:ATH opened at C$11.94 on Friday. The company has a debt-to-equity ratio of 11.07, a current ratio of 1.75 and a quick ratio of 1.24. Athabasca Oil has a 1 year low of C$6.22 and a 1 year high of C$12.86. The company has a market cap of C$5.75 billion, a P/E ratio of 25.40, a P/E/G ratio of -0.51 and a beta of 0.10. The stock’s fifty day moving average price is C$11.20 and its two-hundred day moving average price is C$10.39.

Analysts Set New Price Targets

ATH has been the subject of a number of recent research reports. National Bank Financial cut shares of Athabasca Oil from an “outperform” rating to a “tender” rating and decreased their price target for the stock from C$13.75 to C$12.00 in a research note on Wednesday, October 7th. TD cut Athabasca Oil from a “hold” rating to a “tender” rating and raised their target price for the stock from C$11.00 to C$12.00 in a research report on Tuesday, October 6th. Desjardins set a C$12.50 price target on Athabasca Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Royal Bank Of Canada set a C$12.00 target price on shares of Athabasca Oil and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. Finally, BMO Capital Markets downgraded shares of Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 target price for the company. in a research note on Wednesday, September 16th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of C$11.22.

Insider Buying and Selling

In related news, insider Athabasca Oil Corporation bought 49,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average cost of C$10.14 per share, for a total transaction of C$501,930.00. Following the completion of the transaction, the insider owned 742,100 shares of the company’s stock, valued at approximately C$7,524,894. The trade was a 7.15% increase in their ownership of the stock. Insiders bought 760,200 shares of company stock worth $7,998,932 in the last three months. 0.24% of the stock is owned by 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’.