RBC Capital Remains a Hold on Athabasca Oil (ATHOF)

In a report issued on January 11, Luke Davis from RBC Capital maintained a Hold rating on Athabasca Oil (ATHOF), with a price target of C$0.25. The company’s shares closed last Tuesday at $0.17.

According to TipRanks.com, Davis is a 4-star analyst with an average return of 20.4% and a 58.1% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, PrairieSky Royalty, and Whitecap Resources.

Currently, the analyst consensus on Athabasca Oil is a Hold with an average price target of $0.12, implying a -30.8% downside from current levels. In a report issued on December 29, Desjardins also maintained a Hold rating on the stock with a C$0.15 price target.

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Based on Athabasca Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $127 million and GAAP net loss of $18.82 million. In comparison, last year the company earned revenue of $211 million and had a GAAP net loss of $8.27 million.

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Athabasca Oil Corp is a Canadian energy company which 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. Its operations are spread across the regions in northwestern Alberta, Canada. It also engages in recovering bitumen from oil sands in northeastern Alberta. The principal properties of the firm include Kaybob and Placid asset areas located in northwestern Alberta and Hangingstone asset. It generates most of its revenues from the sale of petroleum and natural gas.

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