Athabasca Oil (OTCMKTS:ATHOF) Stock Passes Above Fifty Day Moving Average – What’s Next?

Athabasca Oil Co. (OTCMKTS:ATHOF) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.48 and traded as high as $8.1045. Athabasca Oil shares last traded at $7.9960, with a volume of 102,842 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ATHOF. Scotiabank reissued a “sector perform” rating on shares of Athabasca Oil in a report on Wednesday, May 20th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Athabasca Oil in a research note on Friday, May 8th. Finally, Jefferies Financial Group assumed coverage on shares of Athabasca Oil in a research note on Thursday, June 4th. They set a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Athabasca Oil Stock Performance

The company has a 50 day simple moving average of $7.48 and a two-hundred day simple moving average of $7.51.

About Athabasca Oil

Athabasca Oil Corporation, trading as ATHOF on the OTCMKTS, is a Canadian energy company focused on the exploration, development and production of heavy oil and bitumen resources. The company’s asset portfolio spans key regions in Western Canada, including the Peace River, Cold Lake and Lloydminster heavy oil plays, as well as select light oil and natural gas opportunities in emerging formations.

Through a vertically integrated operating model, Athabasca Oil manages activities from reservoir optimization and drilling to surface facility construction and bitumen handling.