Athabasca Oil (TSE:ATH) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Athabasca Oil (TSE:ATH) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat.com 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$13.00.

Other analysts have also recently issued reports about the stock. TD Securities cut shares of Athabasca Oil from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. 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 note on Thursday, September 10th. TD downgraded shares of Athabasca Oil from a “hold” rating to a “tender” rating and increased 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 target price on shares of Athabasca Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, Raymond James Financial lowered shares of Athabasca Oil from a “moderate buy” rating to a “hold” rating and decreased their target price for the company from C$14.00 to C$12.00 in a research note on Thursday, October 15th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Athabasca Oil presently has an average rating of “Reduce” and an average price target of C$11.22.

Athabasca Oil Stock Performance

Shares of Athabasca Oil stock opened at C$12.06 on Monday. The stock has a market cap of C$5.80 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of -0.51 and a beta of 0.10. The business has a fifty day simple moving average of C$11.06 and a 200-day simple moving average of C$11.02. 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.

Athabasca Oil (TSE:ATH) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share for the quarter. The firm had revenue of C$306.54 million for the quarter. Athabasca Oil had a return on equity of 12.57% and a net margin of 17.68%. On average, sell-side analysts anticipate that Athabasca Oil will post 0.54 EPS for the current fiscal year.

Insider Activity

In other Athabasca Oil news, insider Athabasca Oil Corporation acquired 48,700 shares of Athabasca Oil stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average price of C$10.28 per share, with a total value of C$500,636.00. Following the purchase, the insider owned 985,700 shares in the company, valued at approximately C$10,132,996. This trade represents a 5.20% increase in their ownership of the stock. Over the last three months, insiders have acquired 998,800 shares of company stock valued at $10,512,819. 0.24% of the stock is currently 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’.