Royal Bank of Canada Lowers Athabasca Oil (TSE:ATH) to Sector Perform

Royal Bank of Canada downgraded shares of Athabasca Oil (TSE:ATH) from an outperform rating to a sector perform rating in a research note issued to investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada currently has C$6.00 price objective on the oil and gas exploration company’s stock.

Several other brokerages also recently issued reports on ATH. Stifel Nicolaus upped their price target on Athabasca Oil from C$5.00 to C$5.75 and gave the stock a buy rating in a report on Monday, March 4th. TD Securities lowered Athabasca Oil from a buy rating to a hold rating and set a C$6.00 price target on the stock. in a research report on Tuesday, March 12th. BMO Capital Markets dropped their price objective on Athabasca Oil from C$4.75 to C$4.50 and set a market perform rating for the company in a report on Thursday, December 7th. Desjardins raised their target price on Athabasca Oil from C$5.50 to C$5.75 and gave the company a buy rating in a research note on Friday, March 22nd. Finally, ATB Capital lifted their target price on Athabasca Oil from C$5.50 to C$6.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$5.67.

Athabasca Oil Trading Up 0.6 %

TSE ATH opened at C$5.23 on Tuesday. The business has a 50 day simple moving average of C$4.78 and a 200 day simple moving average of C$4.31. Athabasca Oil has a one year low of C$2.54 and a one year high of C$5.48. The stock has a market capitalization of C$2.97 billion, a P/E ratio of -58.11, a P/E/G ratio of -0.51 and a beta of 2.19. The company has a debt-to-equity ratio of 11.72, a current ratio of 2.70 and a quick ratio of 1.24.

Athabasca Oil (TSE:ATH) last released its quarterly earnings data on Thursday, February 29th. The oil and gas exploration company reported C$0.03 EPS for the quarter. The firm had revenue of C$315.93 million during the quarter. Athabasca Oil had a negative return on equity of 3.11% and a negative net margin of 4.29%. Research analysts expect that Athabasca Oil will post 0.4798903 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Michael S. J. Wojcichowsky sold 24,500 shares of Athabasca Oil stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$5.32, for a total value of C$130,340.00. 0.78% of the stock is currently owned by corporate insiders.

About Athabasca Oil

Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates through Thermal Oil and Light Oil segments. Its principal properties are in the Greater Placid and Greater Kaybob areas near the Town of Fox Creek in northwestern Alberta; and the Leismer and Hangingstone projects located in the Athabasca region of northeastern Alberta.