Athabasca Oil (TSE:ATH) Cut to “Hold” at BMO Capital Markets

BMO Capital Markets lowered shares of Athabasca Oil (TSE:ATH) from an outperform rating to a hold rating in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has C$12.50 price target on the oil and gas exploration company’s stock.

A number of other research analysts also recently commented on the stock. Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Jefferies Financial Group set a C$14.00 target price on shares of Athabasca Oil and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada set a C$12.00 price target on shares of Athabasca Oil and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$11.56.

Athabasca Oil Price Performance

Shares of TSE:ATH opened at C$10.40 on Wednesday. The company has a market cap of C$5.01 billion, a P/E ratio of 22.13, a P/E/G ratio of -0.51 and a beta of -0.17. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 10.95. Athabasca Oil has a 52 week low of C$6.11 and a 52 week high of C$12.86. The business has a fifty day simple moving average of C$10.69 and a 200-day simple moving average of C$10.72.

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 return on equity of 12.57% and a net margin of 17.68%.The firm had revenue of C$306.54 million for the quarter. Equities research analysts forecast that Athabasca Oil will post 0.5403473 EPS for the current year.

Insider Activity

In related news, insider Athabasca Oil Corporation bought 46,900 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was bought at an average price of C$10.68 per share, with a total value of C$500,892.00. Following the transaction, the insider owned 994,200 shares of the company’s stock, valued at approximately C$10,618,056. This trade represents a 4.95% increase in their ownership of the stock. Insiders have acquired a total of 1,101,600 shares of company stock valued at $11,703,306 in the last three months. 0.24% of the stock is currently owned by insiders.

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’.