Athabasca Oil (TSE:ATH) Sets New 52-Week High - Here's What Happened

Key Points

• Athabasca Oil reached a new 52-week high of C$6.71 during mid-day trading, closing last at C$6.70 with a notable trading volume of 325,843 shares.
• Scotiabank dropped its rating on Athabasca Oil from "strong-buy" to "hold" with a revised price target of C$6.50, while the consensus rating remains "Hold" at an average price target of C$6.10.
• Insider trading activity saw Athabasca Oil Corporation acquiring 158,200 shares at C$5.89 each, indicating significant insider investment as 0.24% of the stock is currently owned by insiders.

Athabasca Oil Co. (TSE:ATH - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$6.71 and last traded at C$6.70, with a volume of 325843 shares. The stock had previously closed at C$6.57.

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 target for the company. in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Athabasca Oil has a consensus rating of "Hold" and an average price target of C$6.10.

Athabasca Oil Trading Up 2.0%

The firm has a fifty day moving average price of C$5.95 and a 200-day moving average price of C$5.46. The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24. The company has a market capitalization of C$3.33 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of -0.51 and a beta of 1.16.

Insider Activity

In other news, insider Athabasca Oil Corporation acquired 158,200 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of C$5.89 per share, for a total transaction of C$932,414.98. 0.24% of the stock is currently owned by insiders.

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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