Scotiabank Forecasts Strong Price Appreciation for Athabasca Oil (TSE:ATH) Stock

Athabasca Oil (TSE:ATH) had its target price boosted by investment analysts at Scotiabank from C$7.00 to C$8.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the oil and gas exploration company’s stock. Scotiabank’s price target indicates a potential upside of 9.29% from the stock’s current price.

Several other research firms have also recently weighed in on ATH. TD Securities boosted their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on shares of Athabasca Oil from C$7.50 to C$7.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. National Bankshares increased their price target on Athabasca Oil from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Desjardins cut their price objective on Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a report on Friday, December 12th. Finally, Raymond James Financial upped their price objective on Athabasca Oil from C$6.50 to C$7.00 in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Athabasca Oil currently has an average rating of “Hold” and a consensus price target of C$7.46.

Athabasca Oil Trading Up 6.9%

Shares of TSE:ATH opened at C$7.32 on Tuesday. The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24. Athabasca Oil has a 1 year low of C$4.05 and a 1 year high of C$8.05. The company has a market cap of C$3.56 billion, a P/E ratio of 8.41, a PEG ratio of -0.51 and a beta of 0.68. The stock’s fifty day moving average price is C$7.20 and its 200-day moving average price is C$6.59.

Athabasca Oil (TSE:ATH) last released its quarterly earnings data on Thursday, October 30th. The oil and gas exploration company reported C$0.14 EPS for the quarter. The company had revenue of C$321.09 million during the quarter. Athabasca Oil had a return on equity of 14.73% and a net margin of 17.53%. Sell-side analysts expect that Athabasca Oil will post 0.5403473 earnings per share for the current year.

Insider Transactions at Athabasca Oil

In related news, insider Athabasca Oil Corporation purchased 129,800 shares of Athabasca Oil stock in a transaction on Friday, October 31st. The stock was acquired at an average price of C$6.82 per share, for a total transaction of C$885,236.00. Following the completion of the transaction, the insider directly owned 2,844,700 shares in the company, valued at C$19,400,854. This represents a 4.78% increase in their position. Insiders bought a total of 763,200 shares of company stock worth $5,191,891 over the last three months. Insiders own 0.24% of the company’s stock.

Athabasca Oil Company Profile

Athabasca Oil Corp is an energy company. It is focused on the exploration, development, and production of light oil and liquids-rich natural gas. The company organizes its business under two operational segments, Light Oil and Thermal Oil. It generates maximum revenue from the Thermal Oil segment. Thermal Oil includes the exploration, development, and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta.