Athabasca Oil (TSE:ATH) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Athabasca Oil Co. (TSE:ATH) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.62 and traded as high as C$11.21. Athabasca Oil shares last traded at C$11.01, with a volume of 2,280,137 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Desjardins set a C$12.50 price target on Athabasca Oil and gave the company a “hold” rating in a report on Friday, July 17th. Royal Bank Of Canada set a C$12.00 price objective on Athabasca Oil and gave the stock a “sector perform” rating in a report on Thursday. Finally, Jefferies Financial Group set a C$14.00 target price on Athabasca Oil and gave the company a “buy” rating in a research note on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$11.43.

Athabasca Oil Stock Performance

The business has a 50 day moving average of C$10.61 and a two-hundred day moving average of C$10.63. The firm has a market cap of C$5.31 billion, a P/E ratio of 23.47, a PEG ratio of -0.51 and a beta of -0.17. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 10.95.

Athabasca Oil (TSE:ATH) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share for the quarter. The company had revenue of C$306.54 million for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. Analysts predict that Athabasca Oil Co. will post 0.5403473 earnings per share for the current year.

Insider Activity at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation acquired 49,900 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of C$10.18 per share, for a total transaction of C$507,982.00. Following the purchase, the insider directly owned 922,900 shares of the company’s stock, valued at C$9,395,122. This trade represents a 5.72% increase in their ownership of the stock. Insiders have bought 1,101,600 shares of company stock valued at $11,703,306 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Athabasca Oil Company Profile

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol ‘ATH’.