Athabasca Oil (TSE:ATH) Trading Down 9.7% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Securities lifted their target price on Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Desjardins decreased their price target on Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a research report on Friday, December 12th. Scotiabank lifted their price target on Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Royal Bank Of Canada upped 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 research note on Tuesday, October 7th. Finally, Raymond James Financial raised their target price on shares of Athabasca Oil from C$6.50 to C$7.00 in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$7.04.

Athabasca Oil Stock Down 1.1%

The firm has a 50-day moving average of C$7.23 and a two-hundred day moving average of C$6.50. The stock has a market capitalization of C$3.12 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of -0.51 and a beta of 0.68. The company has a quick ratio of 1.24, a current ratio of 2.54 and a debt-to-equity ratio of 12.55.

Athabasca Oil (TSE:ATH) last released its earnings results 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 for the quarter. Athabasca Oil had a return on equity of 14.73% and a net margin of 17.53%. As a group, sell-side analysts anticipate that Athabasca Oil Co. will post 0.5403473 earnings per share for the current year.

Insider Transactions at Athabasca Oil

In other news, insider Athabasca Oil Corporation acquired 129,800 shares of Athabasca Oil stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of C$6.82 per share, with a total value of C$885,236.00. Following the completion of the transaction, the insider owned 2,844,700 shares in the company, valued at approximately C$19,400,854. This trade represents a 4.78% increase in their ownership of the stock. In the last three months, insiders have purchased 2,083,500 shares of company stock valued at $13,812,809. 0.24% of the stock is owned by corporate 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.