Royal Bank of Canada Forecasts Strong Price Appreciation for Athabasca Oil (TSE:ATH) Stock

Athabasca Oil (TSE:ATH) had its price objective boosted by Royal Bank of Canada from C$5.50 to C$6.00 in a research note released on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the oil and gas exploration company’s stock.

Several other brokerages have also recently issued reports on ATH. Raymond James raised Athabasca Oil to a “hold” rating in a report on Thursday, October 17th. Scotiabank set a C$6.50 price objective on Athabasca Oil and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. National Bankshares lowered their target price on Athabasca Oil from C$7.50 to C$6.50 in a research report on Friday, September 27th. TD Securities reduced their price target on shares of Athabasca Oil from C$6.00 to C$5.50 in a research report on Tuesday, October 1st. Finally, ATB Capital increased their price objective on shares of Athabasca Oil from C$7.00 to C$7.50 in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Athabasca Oil has a consensus rating of “Moderate Buy” and an average price target of C$6.25.

Athabasca Oil Stock Up 3.6 %

ATH stock opened at C$5.23 on Friday. The business’s 50-day moving average price is C$5.14 and its 200-day moving average price is C$5.13. The stock has a market cap of C$2.84 billion, a P/E ratio of 34.87, a PEG ratio of -0.51 and a beta of 2.05. Athabasca Oil has a twelve month low of C$3.36 and a twelve month high of C$5.72. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 11.60.

Insider Activity

In related news, Senior Officer Karla Dawn Ingoldsby sold 215,200 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$5.57, for a total value of C$1,198,879.20. In other Athabasca Oil news, insider Athabasca Oil Corporation acquired 259,700 shares of the stock in a transaction dated Friday, August 30th. The stock was purchased at an average price 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 the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$5.57, for a total value of C$1,198,879.20. Insiders own 0.24% of the company’s stock.

Athabasca Oil Company Profile

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.