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

Athabasca Oil Co. (TSE:ATH) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$10.97 and traded as high as C$12.30. Athabasca Oil shares last traded at C$12.14, with a volume of 6,617,120 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ATH. Desjardins set a C$12.50 price objective on shares of Athabasca Oil and gave the company a “hold” rating in a research report on Friday, July 17th. National Bank Financial downgraded shares of Athabasca Oil from an “outperform” rating to a “tender” rating and cut their price objective for the stock from C$13.75 to C$12.00 in a research report on Wednesday, October 7th. TD Securities downgraded shares of Athabasca Oil from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. TD downgraded shares of Athabasca Oil from a “hold” rating to a “tender” rating and lifted their target price for the company from C$11.00 to C$12.00 in a report on Tuesday, October 6th. Finally, Raymond James Financial lowered shares of Athabasca Oil from a “moderate buy” rating to a “hold” rating and dropped their price target for the stock from C$14.00 to C$12.00 in a research note on Thursday. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$11.44.

Athabasca Oil Price Performance

The stock has a fifty day moving average of C$10.92 and a two-hundred day moving average of C$10.98. The stock has a market cap of C$5.85 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of -0.51 and a beta of 0.10. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 10.95.

Athabasca Oil (TSE:ATH) last released its earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.13 EPS for the quarter. The company had revenue of C$306.54 million during the quarter. Athabasca Oil had a return on equity of 12.57% and a net margin of 17.68%. On average, equities research analysts anticipate that Athabasca Oil Co. will post 0.54 earnings per share for the current year.

Insider Activity at Athabasca Oil

In related news, insider Athabasca Oil Corporation acquired 48,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average price of C$10.28 per share, with a total value of C$500,636.00. Following the completion of the acquisition, the insider owned 985,700 shares in the company, valued at approximately C$10,132,996. This represents a 5.20% increase in their ownership of the stock. Insiders have bought a total of 1,150,600 shares of company stock valued at $12,167,863 in the last ninety days. 0.24% of the stock is owned by company insiders.

About Athabasca Oil

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol ‘ATH’.