Athabasca Oil (TSE:ATH) Shares Pass Above 200 Day Moving Average – Here’s Why

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$6.30 and traded as high as C$7.86. Athabasca Oil shares last traded at C$7.62, with a volume of 1,558,719 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on ATH. TD Securities upped their price target on Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Desjardins lifted their price objective on Athabasca Oil from C$8.00 to C$8.50 and gave the company a “hold” rating in a research report on Monday, November 24th. Scotiabank raised their target price on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price target on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial increased their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Athabasca Oil currently has an average rating of “Hold” and an average price target of C$7.08.

Athabasca Oil Stock Performance

The firm’s 50-day moving average price is C$7.11 and its 200-day moving average price is C$6.30. The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24. The stock has a market cap of C$3.70 billion, a P/E ratio of 8.76, a PEG ratio of -0.51 and a beta of 0.87.

Athabasca Oil (TSE:ATH) last posted its earnings results on Thursday, October 30th. The oil and gas exploration company reported C$0.14 earnings per share for the quarter. The company had revenue of C$321.09 million during the quarter. Athabasca Oil had a net margin of 17.53% and a return on equity of 14.73%. Sell-side analysts expect that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Athabasca Oil Corporation bought 129,800 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of C$6.82 per share, for a total transaction of C$885,236.00. Following the completion of the transaction, the insider owned 2,844,700 shares of the company’s stock, valued at approximately C$19,400,854. This represents a 4.78% increase in their ownership of the stock. Insiders bought 2,844,700 shares of company stock valued at $18,986,013 over the last quarter. Insiders own 0.24% of the company’s stock.

Athabasca Oil Company Profile

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.