Athabasca Oil (TSE:ATH) Hits New 52-Week High – Here’s Why

Athabasca Oil Co. (TSE:ATH)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$8.11 and last traded at C$7.90, with a volume of 632263 shares trading hands. The stock had previously closed at C$7.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Desjardins dropped their price objective on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating on the stock in a research report on Friday, December 12th. Scotiabank increased their target price on Athabasca Oil from C$7.00 to C$8.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. TD Securities raised their price target on Athabasca Oil from C$6.50 to C$7.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Raymond James Financial increased their price objective on Athabasca Oil from C$6.50 to C$7.00 in a report on Thursday, October 30th. Finally, Royal Bank Of Canada cut their target price on Athabasca Oil from C$7.50 to C$7.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$7.46.

Athabasca Oil Price Performance

The firm has a market capitalization of C$3.84 billion, a PE ratio of 9.08, a P/E/G ratio of -0.51 and a beta of 0.68. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55. The company has a fifty day moving average price of C$7.22 and a two-hundred day moving average price of C$6.65.

Athabasca Oil (TSE:ATH) last issued its quarterly earnings data 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 return on equity of 14.73% and a net margin of 17.53%. Sell-side analysts forecast that Athabasca Oil Co. will post 0.5403473 earnings per share for the current year.

Insider Transactions at Athabasca Oil

In related news, insider Athabasca Oil Corporation acquired 129,800 shares of Athabasca Oil stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of C$6.82 per share, with a total value of C$885,236.00. Following 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. 0.24% of the stock is owned by company insiders.

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.