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

Athabasca Oil Co. (TSE:ATH)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

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

Athabasca Oil Stock Down 2.8%

The stock has a market capitalization of C$5.30 billion, a P/E ratio of 24.36, a PEG 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 stock’s fifty day moving average is C$11.00 and its two-hundred day moving average is C$9.94.

Athabasca Oil (TSE:ATH) last issued its earnings results on Thursday, May 7th. The oil and gas exploration company reported C$0.10 earnings per share (EPS) for the quarter. The business 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%. As a group, research analysts predict that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Athabasca Oil Corporation acquired 49,900 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of C$10.18 per share, for a total transaction of C$507,982.00. Following the acquisition, the insider owned 922,900 shares in the company, valued at approximately C$9,395,122. This represents a 5.72% increase in their ownership of the stock. Over the last 90 days, insiders bought 476,400 shares of company stock valued at $5,086,334. Company 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.