Athabasca Oil (TSE:ATH) Trading Down 8.1% – Here’s What Happened

Athabasca Oil Co. (TSE:ATH)’s share price dropped 8.1% on Monday . The company traded as low as C$6.42 and last traded at C$6.56. Approximately 1,868,346 shares changed hands during mid-day trading, an increase of 114% from the average daily volume of 873,894 shares. The stock had previously closed at C$7.14.

Wall Street Analyst Weigh In

ATH has been the topic of several recent research reports. Scotiabank raised their price objective on Athabasca Oil from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. TD Securities lifted 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 boosted their price target on Athabasca Oil from C$6.50 to C$7.00 in a report on Thursday, October 30th. Royal Bank Of Canada raised their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, Desjardins cut their target price 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Athabasca Oil currently has a consensus rating of “Hold” and an average target price of C$7.04.

Athabasca Oil Stock Down 6.9%

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 stock’s 50-day moving average is C$7.25 and its 200-day moving average is C$6.50. The company has a market cap of C$3.23 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of -0.51 and a beta of 0.68.

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

Insider Transactions at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation bought 129,800 shares of Athabasca Oil stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of C$6.82 per share, with a total value of C$885,236.00. Following the completion of the acquisition, 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 position. Over the last ninety days, insiders have bought 2,332,500 shares of company stock valued at $15,539,003. 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.