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

Athabasca Oil (TSE:ATH) had its price target raised by stock analysts at Desjardins from C$8.00 to C$8.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Desjardins’ price target would indicate a potential upside of 11.84% from the company’s previous close.

ATH has been the subject of a number of other research reports. Raymond James Financial boosted their target price on Athabasca Oil from C$6.50 to C$7.00 in a research note on Thursday, October 30th. Royal Bank Of Canada increased their price objective on Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. TD Securities lifted their target price on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Finally, Scotiabank increased their price target on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Athabasca Oil has a consensus rating of “Hold” and an average price target of C$7.08.

Athabasca Oil Price Performance

TSE ATH traded down C$0.01 on Monday, reaching C$7.60. 364,860 shares of the company’s stock traded hands, compared to its average volume of 2,359,387. The stock has a market cap of C$3.70 billion, a PE ratio of 8.74, a P/E/G ratio of -0.51 and a beta of 0.78. Athabasca Oil has a 12 month low of C$4.05 and a 12 month high of C$8.05. The stock has a 50-day simple moving average of C$6.85 and a 200 day simple moving average of C$6.08. 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 (TSE:ATH) last released its earnings results 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 for the quarter. Athabasca Oil had a net margin of 17.53% and a return on equity of 14.73%. As a group, research analysts predict that Athabasca Oil will post 0.5403473 earnings per share for the current year.

Insider Activity at Athabasca Oil

In other news, insider Athabasca Oil Corporation purchased 129,800 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of C$6.82 per share, for a total transaction of C$885,236.00. Following the purchase, the insider directly owned 2,844,700 shares in the company, valued at approximately C$19,400,854. This trade represents a 4.78% increase in their position. Insiders acquired 2,844,700 shares of company stock valued at $18,986,013 over the last 90 days. Corporate 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.