Raymond James Financial Upgrades Athabasca Oil (TSE:ATH) to Moderate Buy

Athabasca Oil (TSE:ATH) was upgraded by analysts at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a C$13.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of C$8.00. Raymond James Financial’s price objective points to a potential upside of 15.56% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. National Bank Financial lifted their price objective 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. Scotiabank raised their price target on Athabasca Oil from C$7.00 to C$8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. TD Securities boosted their price target on Athabasca Oil from C$6.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday, March 6th. Desjardins cut their price objective on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a research report on Friday, December 12th. Finally, Royal Bank Of Canada downgraded shares of Athabasca Oil from a “moderate buy” rating to a “hold” rating and increased their price objective for the stock from C$7.00 to C$9.00 in a research note on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$9.79.

Athabasca Oil Stock Performance

Shares of TSE:ATH opened at C$11.25 on Monday. Athabasca Oil has a 12-month low of C$4.05 and a 12-month high of C$11.27. The company’s 50 day moving average price is C$8.83 and its two-hundred day moving average price is C$7.64. The firm has a market cap of C$5.40 billion, a PE ratio of 22.96, a PEG ratio of -0.51 and a beta of 0.51. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 11.38.

Athabasca Oil (TSE:ATH) last released its quarterly earnings results on Thursday, March 5th. The oil and gas exploration company reported C$0.10 earnings per share for the quarter. Athabasca Oil had a net margin of 18.29% and a return on equity of 13.86%. Equities research analysts predict that Athabasca Oil will post 0.5403473 earnings per share for the current year.

About Athabasca Oil

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.