Zacks Investment Research cut shares of Advantage Oil & Gas (NYSE:AAV) (TSE:AAV) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Advantage Oil and Gas Ltd., formerly Advantage Energy Income Fund, is an intermediate oil and natural gas corporation, engaged in the exploration and development of oil and natural gas properties in Alberta and Saskatchewan in Canada. It focuses on developing the Montney natural gas resource play located at Glacier, Alberta. The Company’s properties are located in Alberta and Saskatchewan, and consist of liquids rich natural gas and light oil. The Company’s head office is located in Calgary, Alberta, Canada. “

Separately, Raymond James lowered shares of Advantage Oil & Gas from an outperform rating to a market perform rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $10.17.

Advantage Oil & Gas stock opened at $2.55 on Tuesday. The company has a market capitalization of $464.86 million, a P/E ratio of 12.75 and a beta of 0.62. Advantage Oil & Gas has a 12-month low of $2.37 and a 12-month high of $6.70. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

Advantage Oil & Gas (NYSE:AAV) (TSE:AAV) last released its earnings results on Thursday, August 2nd. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $33.82 million during the quarter, compared to analysts’ expectations of $49.14 million. Advantage Oil & Gas had a return on equity of 0.36% and a net margin of 13.13%. analysts forecast that Advantage Oil & Gas will post 0.11 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Burgundy Asset Management Ltd. grew its holdings in Advantage Oil & Gas by 35.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 29,450,026 shares of the oil and gas company’s stock valued at $87,021,000 after buying an additional 7,660,136 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in Advantage Oil & Gas by 6.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 9,659,286 shares of the oil and gas company’s stock valued at $29,944,000 after buying an additional 605,867 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Advantage Oil & Gas by 18.1% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,445,139 shares of the oil and gas company’s stock valued at $26,402,000 after buying an additional 1,295,139 shares in the last quarter. Addenda Capital Inc. grew its holdings in Advantage Oil & Gas by 96.8% during the 2nd quarter. Addenda Capital Inc. now owns 2,578,154 shares of the oil and gas company’s stock valued at $7,833,000 after buying an additional 1,268,292 shares in the last quarter. Finally, Luminus Management LLC grew its holdings in Advantage Oil & Gas by 89.6% during the 2nd quarter. Luminus Management LLC now owns 2,375,000 shares of the oil and gas company’s stock valued at $7,410,000 after buying an additional 1,122,400 shares in the last quarter. 59.37% of the stock is owned by institutional investors and hedge funds.

Advantage Oil & Gas Company Profile

Advantage Oil & Gas Ltd., together with its subsidiaries, acquires, exploits, develops, and produces natural gas in the Province of Alberta, Canada. The company primarily focuses on the development and delineation of its Montney natural gas and liquids resource that includes 200 net sections of land in Glacier, Alberta.

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