Zacks Investment Research Downgrades Advantage Oil & Gas Ltd (NYSE:AAV) to Hold

Zacks Investment Research downgraded shares of Advantage Oil & Gas Ltd (NYSE:AAV) (TSE:AAV) from a buy rating to a hold rating in a report published on Tuesday, July 18th.

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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, BidaskClub raised shares of Advantage Oil & Gas from a hold rating to a buy rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Advantage Oil & Gas currently has an average rating of Buy and a consensus price target of $10.00.

Shares of Advantage Oil & Gas (NYSE AAV) opened at 6.55 on Tuesday. Advantage Oil & Gas has a 12-month low of $5.70 and a 12-month high of $7.88. The firm has a market cap of $1.22 billion, a P/E ratio of 139.36 and a beta of 0.97. The company has a 50-day moving average of $6.65 and a 200 day moving average of $6.42.

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A number of institutional investors have recently bought and sold shares of AAV. Heathbridge Capital Management Ltd. increased its position in Advantage Oil & Gas by 2.7% in the first quarter. Heathbridge Capital Management Ltd. now owns 1,065,300 shares of the oil and gas company’s stock worth $7,021,000 after buying an additional 28,500 shares in the last quarter. Exane Asset Management increased its position in Advantage Oil & Gas by 102.7% in the first quarter. Exane Asset Management now owns 278,336 shares of the oil and gas company’s stock worth $1,835,000 after buying an additional 141,036 shares in the last quarter. TD Asset Management Inc. increased its position in Advantage Oil & Gas by 2.9% in the first quarter. TD Asset Management Inc. now owns 3,472,192 shares of the oil and gas company’s stock worth $22,859,000 after buying an additional 97,240 shares in the last quarter. Karp Capital Management Corp bought a new position in Advantage Oil & Gas during the first quarter worth $691,000. Finally, Caymus Capital Partners L.P. increased its position in Advantage Oil & Gas by 713.8% in the first quarter. Caymus Capital Partners L.P. now owns 1,342,700 shares of the oil and gas company’s stock worth $8,862,000 after buying an additional 1,177,700 shares in the last quarter. 55.04% of the stock is currently owned by institutional investors.

Advantage Oil & Gas Company Profile

Advantage Oil & Gas Ltd. is an intermediate natural gas and liquids development and production company. The Company is engaged in the business of natural gas exploitation, development, acquisition and production in the Province of Alberta. The Company focuses on the development of Montney resource play at Glacier, Alberta in Western Canada.

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