Advantage Oil & Gas Ltd. (NYSE:AAV) fell 3.5% during mid-day trading on Tuesday . The stock traded as low as $6.23 and last traded at $6.25, with a volume of 94,873 shares. The stock had previously closed at $6.48.

Several brokerages have issued reports on AAV. Scotiabank reaffirmed an “outperform” rating and set a $9.50 price target on shares of Advantage Oil & Gas in a research note on Thursday, July 7th. Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $9.25 price target on shares of Advantage Oil & Gas in a research note on Friday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $9.00 price target on shares of Advantage Oil & Gas in a research note on Friday, April 15th. Finally, TD Securities raised Advantage Oil & Gas to a “buy” rating and lifted their price target for the stock from $9.50 to $10.00 in a research note on Thursday, July 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $9.41.

The stock’s 50-day moving average price is $5.76 and its 200 day moving average price is $5.43. The firm has a market cap of $1.16 billion and a P/E ratio of 45.18.

Several hedge funds and institutional investors recently added to or reduced their stakes in AAV. I.G. Investment Management LTD. increased its position in 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 during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in 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 during the period. Finally, Russell Frank Co increased its position in 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 during the period.

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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