Royal Bank of Canada Issues Positive Forecast for Athabasca Oil (TSE:ATH) Stock Price

Athabasca Oil (TSE:ATH) had its target price hoisted by investment analysts at Royal Bank of Canada from C$5.50 to C$6.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.58% from the stock’s current price.

Other analysts have also issued research reports about the stock. ATB Capital raised their target price on shares of Athabasca Oil from C$7.00 to C$7.50 in a research report on Thursday, July 25th. TD Securities dropped their price target on shares of Athabasca Oil from C$6.00 to C$5.50 in a research note on Tuesday, October 1st. National Bankshares dropped their price target on shares of Athabasca Oil from C$7.50 to C$6.50 in a research note on Friday, September 27th. Raymond James raised shares of Athabasca Oil to a “hold” rating in a research note on Thursday, October 17th. Finally, Scotiabank set a C$6.50 price target on shares of Athabasca Oil and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$6.25.

Athabasca Oil Price Performance

Athabasca Oil stock traded down C$0.11 during mid-day trading on Friday, reaching C$5.06. The company had a trading volume of 2,353,290 shares, compared to its average volume of 3,063,449. Athabasca Oil has a fifty-two week low of C$3.36 and a fifty-two week high of C$5.72. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 11.60. The company has a market cap of C$2.75 billion, a P/E ratio of 33.87, a P/E/G ratio of -0.51 and a beta of 2.05. The business has a fifty day simple moving average of C$5.15 and a 200 day simple moving average of C$5.13.

Insider Buying and Selling

In other news, insider Athabasca Oil Corporation bought 259,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of C$5.38 per share, with a total value of C$1,396,848.39. In related news, insider Athabasca Oil Corporation purchased 259,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of C$5.38 per share, with a total value of C$1,396,848.39. Also, Senior Officer Karla Dawn Ingoldsby sold 215,200 shares of Athabasca Oil stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$5.57, for a total transaction of C$1,198,879.20. 0.24% of the stock is owned by insiders.

About Athabasca Oil

Athabasca Oil Corporation engages in the exploration, development, and production of thermal and light oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. It operates through Thermal Oil and Light Oil segments. The company's principal properties are in the Greater Kaybob areas near the Town of Fox Creek in northwestern Alberta; and the Leismer/Corner, Hangingstone, and Dover West projects located in the Athabasca region of northeastern Alberta.