Athabasca Oil (TSE:ATH) Downgraded by National Bank Financial to “Tender”

Athabasca Oil (TSE:ATH) was downgraded by investment analysts at National Bank Financial from an “outperform” rating to a “tender” rating in a report issued on Wednesday, BayStreet reports. They presently have a C$12.00 price target on the oil and gas exploration company’s stock, down from their previous price target of C$13.75. National Bank Financial’s target price suggests a potential downside of 2.36% from the company’s previous close.

Several other research analysts have also issued reports on the stock. TD Securities lowered shares of Athabasca Oil from a “hold” rating to a “strong sell” rating in a research report on Monday. TD downgraded Athabasca Oil from a “hold” rating to a “tender” rating and boosted their target price for the stock from C$11.00 to C$12.00 in a research report on Tuesday. Royal Bank Of Canada set a C$12.00 target price on Athabasca Oil and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. BMO Capital Markets downgraded shares of Athabasca Oil from an “outperform” rating to a “hold” rating and set a C$12.50 price target on the stock. in a research note on Wednesday, September 16th. Finally, Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the stock a “hold” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$11.56.

Athabasca Oil Price Performance

Shares of ATH stock traded up C$0.06 during trading on Wednesday, hitting C$12.29. The company had a trading volume of 8,682,064 shares, compared to its average volume of 2,665,271. 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 52 week low of C$6.11 and a 52 week high of C$12.86. The stock has a market capitalization of C$5.92 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of -0.51 and a beta of 0.10. The stock’s 50-day moving average is C$10.64 and its two-hundred day moving average is C$10.87.

Athabasca Oil (TSE:ATH) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 EPS for the quarter. The firm had revenue of C$306.54 million for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. As a group, analysts predict that Athabasca Oil will post 0.5403473 EPS for the current fiscal year.

Insider Buying and Selling at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation purchased 48,700 shares of the stock in a transaction 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 transaction, the insider directly owned 985,700 shares of the company’s stock, valued at approximately C$10,132,996. This trade represents a 5.20% increase in their position. Insiders have bought 1,150,600 shares of company stock worth $12,167,863 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Trending Headlines about Athabasca Oil

Here are the key news stories impacting Athabasca Oil this week:

• Positive Sentiment: Cenovus agreed to acquire Athabasca Oil in a transaction valued at approximately C$5.7 billion on an enterprise-value basis. The deal would expand Cenovus’s oil-sands footprint and gives Athabasca shareholders a takeover-related valuation uplift. Cenovus Expands Oil Sands Footprint With C$5.7 Billion Acquisition of Athabasca Oil
• Positive Sentiment: The acquisition provides a clear near-term catalyst and substantially improves Athabasca’s strategic position, as the company’s production and oil-sands assets become part of a larger integrated producer. Cenovus to Buy Athabasca in Deal Worth $4B
• Neutral Sentiment: TD Securities changed its recommendation from “hold” to “tender” and raised its price target to C$12.00 from C$11.00. The recommendation appears to reflect the takeover situation rather than a worsening operating outlook; investors may have limited upside beyond the offer value unless terms improve. Athabasca Oil Stock Dropped to Strong Sell by TD Securities
• Negative Sentiment: Cenovus’s shares declined amid concerns that financing the C$5.7 billion acquisition could increase debt. Those concerns may introduce deal-execution or closing risk, although they do not directly change Athabasca’s underlying assets. Cenovus tumbles as C$5.7 billion Athabasca deal raises debt concerns

Athabasca Oil Company Profile

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’.