Advantage Oil & Gas Ltd (NYSE:AAV) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut 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 sell rating to a hold rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $9.75.

Shares of Advantage Oil & Gas (AAV) opened at 6.45 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 $1.20 billion, a P/E ratio of 25.90 and a beta of 0.97. The company’s 50-day moving average price is $6.76 and its 200-day moving average price is $6.43.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Advantage Oil & Gas by 6.1% in the fourth quarter. FMR LLC now owns 2,349,100 shares of the oil and gas company’s stock valued at $15,955,000 after buying an additional 135,700 shares during the period. Two Sigma Investments LP raised its position in shares of Advantage Oil & Gas by 22.7% in the fourth quarter. Two Sigma Investments LP now owns 163,099 shares of the oil and gas company’s stock valued at $1,106,000 after buying an additional 30,120 shares during the period. Numeric Investors LLC bought a new position in shares of Advantage Oil & Gas during the fourth quarter valued at about $373,000. Norges Bank bought a new position in shares of Advantage Oil & Gas during the fourth quarter valued at about $9,095,000. Finally, Quadrature Capital Ltd bought a new position in shares of Advantage Oil & Gas during the fourth quarter valued at about $506,000. Institutional investors own 55.15% of the company’s stock.

About Advantage Oil & Gas

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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