Athabasca Oil (TSE:ATH) Sets New 52-Week High After Analyst Upgrade

Athabasca Oil Co. (TSE:ATH) shares hit a new 52-week high during mid-day trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$6.50 to C$7.00. Royal Bank Of Canada currently has an outperform rating on the stock. Athabasca Oil traded as high as C$6.87 and last traded at C$6.87, with a volume of 1112672 shares changing hands. The stock had previously closed at C$6.80.

Separately, Scotiabank cut Athabasca Oil from a “strong-buy” rating to a “hold” rating and set a C$6.50 price objective for the company. in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$6.50.

Insiders Place Their Bets

In other Athabasca Oil news, insider Athabasca Oil Corporation bought 158,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of C$5.89 per share, for a total transaction of C$932,414.98. 0.24% of the stock is currently owned by insiders.

Athabasca Oil Stock Performance

The firm has a 50 day moving average of C$6.18 and a two-hundred day moving average of C$5.59. The stock has a market cap of C$3.44 billion, a PE ratio of 8.05, a PEG ratio of -0.51 and a beta of 0.99. The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24.

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.