Scotiabank Downgrades Athabasca Oil (TSE:ATH) to Hold

Athabasca Oil (TSE:ATH) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat.com reports. They currently have a C$6.50 target price on the oil and gas exploration company’s stock. Scotiabank’s target price points to a potential upside of 15.86% from the company’s current price.

Athabasca Oil Trading Down 1.6%

Shares of ATH opened at C$5.61 on Friday. Athabasca Oil has a 1 year low of C$4.05 and a 1 year high of C$6.25. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55. The stock has a 50 day simple moving average of C$5.40 and a 200-day simple moving average of C$5.15. The stock has a market cap of C$2.92 billion, a PE ratio of 13.20, a PEG ratio of -0.51 and a beta of 2.05.

About Athabasca Oil

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.