Athabasca Oil (TSE:ATH) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Athabasca Oil Co. (TSE:ATH)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.38 and traded as high as C$10.91. Athabasca Oil shares last traded at C$10.69, with a volume of 2,431,059 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ATH. Royal Bank Of Canada raised their price objective on 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. Desjardins set a C$12.50 price target on Athabasca Oil and gave the company a “hold” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group set a C$14.00 price target on shares of Athabasca Oil and gave the company a “buy” rating in a research report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$11.50.

Athabasca Oil Trading Up 0.5%

The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 10.95. The stock has a market capitalization of C$5.34 billion, a P/E ratio of 23.60, a P/E/G ratio of -0.51 and a beta of -0.23. The business’s fifty day simple moving average is C$10.54 and its two-hundred day simple moving average is C$10.40.

Athabasca Oil (TSE:ATH) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share (EPS) for the quarter. The company had revenue of C$306.54 million for the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. As a group, analysts forecast that Athabasca Oil Co. will post 0.5403473 earnings per share for the current year.

Insider Activity at Athabasca Oil

In other news, insider Athabasca Oil Corporation acquired 43,500 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were bought at an average price of C$10.41 per share, with a total value of C$452,835.00. Following the acquisition, the insider owned 993,600 shares of the company’s stock, valued at C$10,343,376. This trade represents a 4.58% increase in their ownership of the stock. In the last ninety days, insiders purchased 866,800 shares of company stock valued at $9,255,265. 0.24% of the stock is currently 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.