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

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

Several other equities research analysts have also recently weighed in on ATH. ATB Capital boosted their price objective on Athabasca Oil from C$5.50 to C$6.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Stifel Nicolaus boosted their price objective on Athabasca Oil from C$5.00 to C$5.75 and gave the stock a buy rating in a research note on Monday, March 4th. BMO Capital Markets reduced their price objective on Athabasca Oil from C$4.75 to C$4.50 and set a market perform rating on the stock in a research note on Thursday, December 7th. TD Securities cut Athabasca Oil from a buy rating to a hold rating and set a C$6.00 price objective on the stock. in a research note on Tuesday, March 12th. Finally, Desjardins upped 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Athabasca Oil currently has an average rating of Moderate Buy and an average price target of C$5.67.

Athabasca Oil Stock Up 0.6 %

ATH opened at C$5.23 on Tuesday. The company has a market capitalization of C$2.97 billion, a PE ratio of -58.11, a price-to-earnings-growth ratio of -0.51 and a beta of 2.19. The firm has a 50-day simple moving average of C$4.76 and a two-hundred day simple moving average of C$4.30. The company has a quick ratio of 1.24, a current ratio of 2.70 and a debt-to-equity ratio of 11.72. Athabasca Oil has a 52 week low of C$2.54 and a 52 week high of C$5.48.

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

Insider Activity

In related news, Senior Officer Michael S. J. Wojcichowsky sold 24,500 shares of the stock in a transaction that occurred 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. Insiders own 0.78% of the company’s stock.

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.