Athabasca Oil (TSE:ATH) Hits New 1-Year High on Analyst Upgrade

Key Points

• Athabasca Oil Co. hit a new 52-week high at C$6.87 after Royal Bank of Canada upgraded its price target from C$6.50 to C$7.00.
• Scotiabank downgraded Athabasca Oil from a "strong-buy" to a "hold" rating, maintaining a price target of C$6.50.
• Insider purchases included 158,200 shares at an average price of C$5.89, indicating confidence in the company's future prospects.

Athabasca Oil Co. (TSE:ATH - Get Free Report) hit a new 52-week high on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$6.50 to C$7.00. Royal Bank Of Canada currently has an outperform rating on the stock. Athabasca Oil traded as high as C$6.87 and last traded at C$6.87, with a volume of 1112672 shares traded. The stock had previously closed at C$6.80.

Separately, Scotiabank cut Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 price target on the stock. in a report on Friday, July 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$6.50.

Insider Transactions at Athabasca Oil

In related news, insider Athabasca Oil Corporation purchased 158,200 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought at an average price of C$5.89 per share, with a total value of C$932,414.98. Insiders own 0.24% of the company's stock.

Athabasca Oil Trading Up 1.0%

The business's 50-day moving average is C$6.17 and its two-hundred day moving average is C$5.58. The stock has a market capitalization of C$3.41 billion, a PE ratio of 7.99, a PEG ratio of -0.51 and a beta of 0.99. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55.

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.

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