Advantage Oil & Gas Ltd. (NYSE:AAV) shot up 5.2% during mid-day trading on Wednesday . The stock traded as high as $5.74 and last traded at $5.70, with a volume of 57,348 shares trading hands. The stock had previously closed at $5.42.

Several brokerages recently issued reports on AAV. Royal Bank Of Canada reiterated an “outperform” rating and issued a $9.00 price target on shares of Advantage Oil & Gas in a research note on Friday, April 15th. Raymond James Financial Inc. reiterated an “outperform” rating and issued a $9.25 price target on shares of Advantage Oil & Gas in a research note on Friday, May 27th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Advantage Oil & Gas in a research note on Friday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.47.

The stock has a market capitalization of $1.05 billion and a PE ratio of 41.15. The company’s 50-day moving average is $5.72 and its 200 day moving average is $5.36.

Several hedge funds and institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in shares of Advantage Oil & Gas by 16.0% in the fourth quarter. Morgan Stanley now owns 554,921 shares of the company’s stock valued at $2,820,000 after buying an additional 76,533 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Advantage Oil & Gas by 3.6% in the fourth quarter. TD Asset Management Inc. now owns 2,458,776 shares of the company’s stock valued at $12,443,000 after buying an additional 85,868 shares in the last quarter. Russell Frank Co increased its position in shares of Advantage Oil & Gas by 22.5% in the fourth quarter. Russell Frank Co now owns 687,468 shares of the company’s stock valued at $3,396,000 after buying an additional 126,364 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Advantage Oil & Gas by 147.6% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 730,800 shares of the company’s stock valued at $5,138,000 after buying an additional 435,700 shares in the last quarter. Finally, I.G. Investment Management LTD. increased its position in shares of Advantage Oil & Gas by 37.1% in the fourth quarter. I.G. Investment Management LTD. now owns 5,089,606 shares of the company’s stock valued at $25,871,000 after buying an additional 1,378,622 shares in the last quarter.

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. It operates in the Montney resource play located in Western Canada.

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