Athabasca Oil (TSE:ATH) Reaches New 52-Week High - What's Next?

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.

Shares of 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. The stock had previously closed at C$6.11.

Analysts Set New Price Targets

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

Athabasca Oil Trading Up 2.6%

The firm has a market cap of C$3.11 billion, a P/E ratio of 7.29, a P/E/G ratio of -0.51 and a beta of 1.16. The company's 50 day simple moving average is C$5.79 and its 200-day simple moving average is C$5.33. The company has a quick ratio of 1.24, a current ratio of 2.54 and a debt-to-equity ratio of 12.55.

Insider Activity at Athabasca Oil

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

Athabasca Oil Company Profile

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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