BMO Capital Upgrades Athabasca Oil to Hold

By Jason Carr

The Materials sector company, Athabasca Oil (TSX: ATH), has received a rating update from a Wall Street analyst on December 6. Joe Levesque, an analyst with BMO Capital, has upgraded their rating on ATH to Hold on December 6 , with a C$1.30 price target.

According to TipRanks.com, Levesque is a 1-star analyst with an average return of -2.0% and a 46.0% success rate. Levesque covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Athabasca Oil Corporation, and Advantage Oil & Gas Ltd.

Currently, the analyst consensus on Athabasca Oil is Moderate Buy and the average price target is C$1.69, representing a 49.6% upside.

In a report issued on December 4, Scotiabank also maintained a Hold rating on the stock with a C$1.40 price target.

Athabasca Oil’s market cap is currently C$576M and has a P/E ratio of 0.

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 shares closed on Thursday at C$1.13.