Athabasca Oil Co. (TSE:ATH) Stock Rated “Reduce” by Wall Street Brokerages

Shares of Athabasca Oil Co. (TSE:ATH) have been assigned an average rating of “Reduce” from the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$11.22.

Several brokerages have recently weighed in on ATH. BMO Capital Markets cut Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 price target for the company. in a research note on Wednesday, September 16th. TD lowered Athabasca Oil from a “hold” rating to a “tender” rating and lifted their price objective for the stock from C$11.00 to C$12.00 in a research note on Tuesday, October 6th. Raymond James Financial lowered Athabasca Oil from a “moderate buy” rating to a “hold” rating and cut their price objective for the stock from C$14.00 to C$12.00 in a research note on Thursday, October 15th. TD Securities cut Athabasca Oil from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, Desjardins set a C$12.50 target price on shares of Athabasca Oil and gave the company a “hold” rating in a research report on Friday, July 17th.

Insider Activity

In other news, insider Athabasca Oil Corporation purchased 49,500 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average price of C$10.14 per share, for a total transaction of C$501,930.00. Following the transaction, the insider owned 742,100 shares of the company’s stock, valued at approximately C$7,524,894. This trade represents a 7.15% increase in their ownership of the stock. In the last 90 days, insiders have purchased 1,036,100 shares of company stock valued at $10,932,444. 0.24% of the stock is currently owned by insiders.

Athabasca Oil Stock Down 0.4%

Shares of TSE:ATH opened at C$12.07 on Friday. The firm has a market cap of C$5.81 billion, a P/E ratio of 25.68, a P/E/G ratio of -0.51 and a beta of 0.10. 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 12-month low of C$6.22 and a 12-month high of C$12.86. The business has a fifty day simple moving average of C$11.03 and a 200 day simple moving average of C$11.01.

Athabasca Oil (TSE:ATH) last announced its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 EPS 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. Analysts predict that Athabasca Oil will post 0.54 earnings per share for the current year.

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’.