Athabasca Oil (TSE:ATH) Shares Down 9.7% – Here’s Why

Shares of Athabasca Oil Co. (TSE:ATH) were down 9.7% during trading on Monday . The company traded as low as C$6.42 and last traded at C$6.45. Approximately 2,418,779 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 1,501,683 shares. The stock had previously closed at C$7.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ATH shares. Raymond James Financial lifted their price target on shares of Athabasca Oil from C$6.50 to C$7.00 in a research note on Thursday, October 30th. Royal Bank Of Canada lifted their target price on Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Scotiabank upped their target price on Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Desjardins cut their price target on Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating on the stock in a research note on Friday, December 12th. Finally, TD Securities lifted their price objective on Athabasca Oil from C$6.50 to C$7.00 and gave the company a “hold” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$7.04.

Athabasca Oil Stock Performance

The business has a 50-day moving average of C$7.25 and a two-hundred day moving average of C$6.50. 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 company has a market cap of C$3.22 billion, a P/E ratio of 7.61, a P/E/G ratio of -0.51 and a beta of 0.68.

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

Insider Buying and Selling

In other news, insider Athabasca Oil Corporation bought 129,800 shares of the stock in a transaction on Friday, October 31st. The stock was 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 purchase, the insider directly owned 2,844,700 shares in the company, valued at approximately C$19,400,854. The trade was a 4.78% increase in their ownership of the stock. Insiders have purchased a total of 2,332,500 shares of company stock worth $15,539,003 over the last three months. Corporate 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.