Barclays Reiterates a Hold Rating on Athabasca Oil Corporation

By Carrie Williams

In a report issued on November 11, Grant Hofer from Barclays reiterated a Hold rating on Athabasca Oil Corporation (OTHEROTC: ATHOF). The company’s shares closed last Monday at $0.90.

According to TipRanks.com, Hofer is ranked 0 out of 5 stars with an average return of -23.9% and a 35.7% success rate. Hofer covers the Basic Materials sector, focusing on stocks such as Penn West Petroleum Ltd, Paramount Resources Ltd, and Freehold Royalties Ltd.

Athabasca Oil Corporation has an analyst consensus of Moderate Buy.

Based on Athabasca Oil Corporation’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $40.8 million and GAAP net loss of $25.32 million. In comparison, last year the company earned revenue of $15.43 million and had a GAAP net loss of $29.23 million.

Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil. The company’s projects include Hangingstone, Dover West, Birch, Grosmont, Dover JV, Kaybob, Saxon/Placid/Simonette, Grande Prairie, Steam Assisted Gravity Drainage, Thermally Assisted Gravity Drainage and Hydraulic Fracturing. Athabasca Oil was founded by Ian P. Atkinson on August 23, 2006 and is headquartered in Calgary, Canada.