Athabasca Oil (TSE:ATH) Downgraded by Royal Bank of Canada

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Athabasca Oil (TSE:ATH) was downgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$0.60 price objective on the oil and gas exploration company’s stock, down from their prior price objective of C$0.90. Royal Bank of Canada’s price objective would indicate a potential upside of 20.00% from the stock’s previous close.

ATH has been the subject of several other research reports. Raymond James reiterated a “market perform” rating and issued a C$1.50 price objective on shares of Athabasca Oil in a report on Thursday, August 1st. TD Securities decreased their target price on Athabasca Oil from C$1.15 to C$1.10 and set a “buy” rating for the company in a research report on Thursday, August 1st. CIBC decreased their target price on Athabasca Oil from C$1.30 to C$1.15 in a research report on Tuesday. Finally, National Bank Financial decreased their target price on Athabasca Oil from C$1.65 to C$1.10 and set an “outperform” rating for the company in a research report on Tuesday, June 25th.

TSE ATH traded down C$0.04 on Friday, hitting C$0.50. The company’s stock had a trading volume of 414,288 shares, compared to its average volume of 801,461. Athabasca Oil has a 52-week low of C$0.50 and a 52-week high of C$1.53. The company has a current ratio of 3.51, a quick ratio of 3.09 and a debt-to-equity ratio of 46.89. The company’s 50-day simple moving average is C$0.62 and its 200 day simple moving average is C$0.75. The firm has a market cap of $282.52 million and a P/E ratio of -1.33.

Athabasca Oil (TSE:ATH) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas exploration company reported C$0.11 earnings per share for the quarter. The business had revenue of C$218.23 million during the quarter. On average, research analysts forecast that Athabasca Oil will post -0.13 EPS for the current fiscal year.

Athabasca Oil Company Profile

Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates in Light Oil and Thermal Oil segments. Its principal properties are the Kaybob and Placid asset areas located in northwestern Alberta; and the Leismer and Hangingstone assets located in northeastern Alberta.

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