Athabasca Oil (TSE:ATH) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Athabasca Oil Co. (TSE:ATH) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.24 and traded as high as C$11.85. Athabasca Oil shares last traded at C$11.56, with a volume of 1,970,985 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATH shares. Raymond James Financial upgraded shares of Athabasca Oil from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$8.00 to C$13.00 in a research note on Monday, March 30th. TD Securities lifted their price objective on shares of Athabasca Oil from C$6.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday, March 6th. Royal Bank Of Canada lifted their price objective on shares of 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. 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. Finally, National Bank Financial lifted their price objective on shares of Athabasca Oil from C$9.00 to C$12.50 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$10.89.

Athabasca Oil Trading Up 0.3%

The company has a quick ratio of 1.24, a current ratio of 1.74 and a debt-to-equity ratio of 11.35. The business’s 50 day moving average is C$11.41 and its two-hundred day moving average is C$9.24. The firm has a market capitalization of C$5.60 billion, a P/E ratio of 25.69, a PEG ratio of -0.51 and a beta of -0.22.

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

Insider Buying and Selling

In other Athabasca Oil news, insider Athabasca Oil Corporation purchased 46,900 shares of the company’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of C$11.00 per share, for a total transaction of C$515,900.00. Following the completion of the transaction, the insider owned 957,400 shares in the company, valued at C$10,531,400. The trade was a 5.15% increase in their ownership of the stock. Insiders have bought 182,900 shares of company stock valued at $2,053,950 in the last quarter. 0.24% of the stock is currently owned by insiders.

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.