Athabasca Oil (TSE:ATH) Sets New 12-Month High - Should You Buy?

Key Points

• Athabasca Oil's shares reached a new 52-week high of C$6.31, closing at C$6.23 with a trading volume of 788,856 shares.
• Scotiabank downgraded Athabasca Oil from a "strong-buy" to a "hold" rating, setting a price target of C$6.50, while analysts have given the stock an average holding rating.
• Insiders purchased 158,200 shares at an average cost of C$5.89, indicating confidence in the company, though they own only 0.24% of the total shares.

Athabasca Oil Co. (TSE:ATH - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$6.31 and last traded at C$6.23, with a volume of 788856 shares changing hands. The stock had previously closed at C$6.11.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 target price on the stock. in a research report on Friday, July 11th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$6.10.

Athabasca Oil Stock Up 0.2%

The business has a 50-day moving average price of C$5.85 and a two-hundred day moving average price of C$5.38. The company has a quick ratio of 1.24, a current ratio of 2.54 and a debt-to-equity ratio of 12.55. The firm has a market cap of C$3.17 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of -0.51 and a beta of 1.16.

Insider Buying and Selling at Athabasca Oil

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

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.