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

Athabasca Oil (TSE:ATH) had its price objective raised by Royal Bank Of Canada from C$9.00 to C$12.00 in a research note published on Wednesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the oil and gas exploration company’s stock.

Several other equities analysts have also weighed in on the company. TD Securities increased their price objective on Athabasca Oil from C$6.50 to C$8.00 and gave the company a “hold” rating in a report on Friday, March 6th. Desjardins reduced their price objective on Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a report on Friday, December 12th. Scotiabank raised their price target on Athabasca Oil from C$7.00 to C$8.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Raymond James Financial raised Athabasca Oil from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$8.00 to C$13.00 in a report on Monday, March 30th. Finally, National Bank Financial raised their price target on Athabasca Oil from C$9.00 to C$12.50 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$10.29.

Athabasca Oil Price Performance

Shares of TSE ATH opened at C$10.38 on Wednesday. The stock has a fifty day simple moving average of C$9.20 and a two-hundred day simple moving average of C$7.80. Athabasca Oil has a 1-year low of C$4.05 and a 1-year high of C$11.27. The firm has a market cap of C$4.98 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of -0.51 and a beta of -0.03. The company has a current ratio of 1.78, a quick ratio of 1.24 and a debt-to-equity ratio of 11.38.

Athabasca Oil (TSE:ATH) last announced its quarterly earnings data on Thursday, March 5th. The oil and gas exploration company reported C$0.10 earnings per share for the quarter. Athabasca Oil had a return on equity of 13.86% and a net margin of 18.29%. Analysts anticipate that Athabasca Oil will post 0.5403473 earnings per share for the current year.

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.