Athabasca Oil (TSE:ATH) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Athabasca Oil Co. (TSE:ATH) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.94 and traded as high as C$11.24. Athabasca Oil shares last traded at C$10.96, with a volume of 2,296,641 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATH. Jefferies Financial Group set a C$14.00 target price on shares of Athabasca Oil and gave the stock a “buy” rating in a report on Thursday, June 4th. Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the stock a “hold” rating in a report on Friday, July 17th. Raymond James Financial raised shares of Athabasca Oil from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$8.00 to C$13.00 in a research note on Monday, March 30th. National Bank Financial increased their target price on Athabasca Oil from C$9.00 to C$12.50 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada lifted their price target on Athabasca Oil from C$12.00 to C$12.50 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$11.50.

Athabasca Oil Trading Down 2.8%

The firm has a market cap of C$5.30 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of -0.51 and a beta of -0.19. The company has a debt-to-equity ratio of 11.35, a current ratio of 1.74 and a quick ratio of 1.24. The business has a 50-day moving average of C$11.00 and a 200-day moving average of C$9.94.

Athabasca Oil (TSE:ATH) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas exploration company reported C$0.10 earnings per share for the quarter. The firm had revenue of C$355.58 million for the quarter. Athabasca Oil had a return on equity of 12.23% and a net margin of 16.25%. Research analysts anticipate that Athabasca Oil Co. will post 0.5403473 EPS for the current year.

Insider Transactions at Athabasca Oil

In other news, insider Athabasca Oil Corporation purchased 48,800 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average price of C$10.30 per share, for a total transaction of C$502,640.00. Following the completion of the purchase, the insider directly owned 1,070,200 shares in the company, valued at C$11,023,060. The trade was a 4.78% increase in their position. Insiders have acquired 476,400 shares of company stock worth $5,086,334 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

About Athabasca Oil

Athabasca Oil Corp is an energy company. It is focused on the exploration, development, and production of light oil and liquids-rich natural gas. The company organizes its business under two operational segments, Light Oil and Thermal Oil. It generates maximum revenue from the Thermal Oil segment. Thermal Oil includes the exploration, development, and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta.