Athabasca Oil Co. (OTCMKTS:ATHOF – Get Free Report) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 12,841,100 shares, a drop of 20.1% from the August 15th total of 16,062,800 shares. Based on an average trading volume of 156,100 shares, the short-interest ratio is currently 82.3 days.
Analysts Set New Price Targets
A number of research firms have commented on ATHOF. Stifel Nicolaus initiated coverage on shares of Athabasca Oil in a research note on Tuesday, September 12th. They issued a “buy” rating on the stock. BMO Capital Markets increased their price target on shares of Athabasca Oil from C$3.75 to C$4.00 in a report on Tuesday, August 1st. Finally, Royal Bank of Canada increased their price target on shares of Athabasca Oil from C$3.50 to C$4.00 in a report on Thursday, July 27th.
Athabasca Oil Stock Performance
About Athabasca Oil
Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates through Thermal Oil and Light Oil segments. Its principal properties are in the Greater Placid and Greater Kaybob areas near the Town of Fox Creek in northwestern Alberta; and the Leismer and Hangingstone projects located in the Athabasca region of northeastern Alberta.
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