Athabasca Oil (TSE:ATH) Cut to Tender at National Bank Financial

National Bank Financial cut shares of Athabasca Oil (TSE:ATH) from an outperform rating to a tender rating in a report issued on Wednesday,BayStreet reports. They currently have C$12.00 price target on the oil and gas exploration company’s stock, down from their prior price target of C$13.75.

Several other equities analysts have also commented on ATH. BMO Capital Markets lowered shares of Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 target price on the stock. in a report on Wednesday, September 16th. Royal Bank Of Canada set a C$12.00 price objective on shares of Athabasca Oil and gave the company a “sector perform” rating in a research report on Thursday, September 10th. TD Securities cut Athabasca Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. 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. Finally, TD downgraded Athabasca Oil from a “hold” rating to a “tender” rating and upped their price objective for the stock from C$11.00 to C$12.00 in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$11.56.

Athabasca Oil Trading Down 0.7%

Shares of TSE:ATH opened at C$12.22 on Wednesday. The business’s 50 day simple moving average is C$10.75 and its 200 day simple moving average is C$10.91. Athabasca Oil has a 1 year low of C$6.11 and a 1 year high of C$12.86. The company has a debt-to-equity ratio of 10.95, a current ratio of 1.90 and a quick ratio of 1.24. The company has a market capitalization of C$5.88 billion, a P/E ratio of 26.00, a P/E/G ratio of -0.51 and a beta of 0.10.

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 during the quarter. On average, research analysts anticipate that Athabasca Oil will post 0.54 EPS for the current fiscal year.

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 stock was bought at an average cost of C$10.14 per share, for a total transaction of C$501,930.00. Following the purchase, 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 have acquired 1,150,600 shares of company stock worth $12,167,863 in the last three months. 0.24% of the stock is currently owned by corporate 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’.