The stock of Advantage Oil & Gas Ltd. (TSE:AAV) gapped up by $0.6 today and has $10.11 target or 3.00% above today’s $9.82 share price. The 7 months technical chart setup indicates low risk for the $1.80 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $10.11 price target is reached, the company will be worth $54.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 589,277 shares traded hands. Advantage Oil & Gas Ltd. (TSE:AAV) has risen 32.17% since April 26, 2016 and is uptrending. It has outperformed by 26.95% the S&P500.
Advantage Oil & Gas Ltd. (TSE:AAV) Ratings Coverage
Out of 7 analysts covering Advantage Oil & Gas (TSE:AAV), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $13.50 is the highest target while $9 is the lowest. The $11 average target is 12.02% above today’s ($9.82) stock price. Advantage Oil & Gas has been the topic of 25 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Sector Outperform” rating by Scotia Capital given on Thursday, October 15. The stock of Advantage Oil & Gas Ltd. (TSE:AAV) has “Sector Outperformer” rating given on Tuesday, September 8 by IBC. As per Friday, November 4, the company rating was maintained by Scotia Capital. On Tuesday, June 28 the stock rating was maintained by Desjardins Securities with “”. Scotia Capital maintained the shares of AAV in a report on Friday, October 14 with “Outperform” rating. RBC Capital Markets maintained it with “Outperform” rating and $9 target price in Friday, July 8 report. The firm has “Outperform” rating by Scotia Capital given on Monday, August 8. TD Securities maintained it with “Buy” rating and $11.50 target price in Tuesday, November 29 report. The stock of Advantage Oil & Gas Ltd. (TSE:AAV) earned “Outperform” rating by RBC Capital Markets on Friday, October 14. The stock of Advantage Oil & Gas Ltd. (TSE:AAV) earned “Outperform” rating by BMO Capital Markets on Tuesday, November 29.
Advantage Oil & Gas Ltd. is an intermediate natural gas and liquids development and production company. The company has a market cap of $1.80 billion. The Firm is engaged in the business of natural gas exploitation, development, acquisition and production in the Province of Alberta. It has a 290.88 P/E ratio. It operates in the Montney resource play located in Western Canada.
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