Advantage Energy (TSE:AAV) Hits New 1-Year High After Better-Than-Expected Earnings

Advantage Energy Ltd. (TSE:AAV) (NYSE:AAV)’s share price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as C$11.14 and last traded at C$10.76, with a volume of 127450 shares changing hands. The stock had previously closed at C$10.73.

The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.03. The firm had revenue of C$139.38 million for the quarter, compared to the consensus estimate of C$132.00 million. Advantage Energy had a net margin of 19.94% and a return on equity of 6.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Advantage Energy from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 5th. TD Securities reaffirmed a “buy” rating and issued a C$14.00 price objective on shares of Advantage Energy in a research note on Friday. Raymond James reduced their target price on shares of Advantage Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Scotiabank upped their price objective on shares of Advantage Energy from C$16.00 to C$17.00 and gave the company a “sector perform” rating in a report on Tuesday, March 5th. Finally, CIBC upped their price objective on shares of Advantage Energy from C$10.50 to C$11.00 and gave the company a “neutral” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$12.68.

Insider Activity at Advantage Energy

In other news, Director John Larry Festival acquired 40,000 shares of Advantage Energy stock in a transaction on Tuesday, March 19th. The stock was bought at an average price of C$9.95 per share, for a total transaction of C$398,000.00. 1.27% of the stock is currently owned by corporate insiders.

Advantage Energy Price Performance

The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 22.74. The company has a market cap of C$1.72 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of -3.58 and a beta of 1.65. The company has a fifty day simple moving average of C$10.03 and a two-hundred day simple moving average of C$9.48.

About Advantage Energy

Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. Its assets are located approximately 4 to 80 km northwest of the city of Grande Prairie, Alberta.