Athabasca Oil (TSE:ATH) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Athabasca Oil shares crossed above their two hundred day moving average, trading as high as C$6.76, with the latest price at C$6.66 on a significant volume of 1,008,513 shares.
• Scotiabank downgraded the stock from "strong-buy" to "hold" and set a price target of C$6.50, reflecting cautious sentiment among analysts.
• Insiders have shown confidence in the stock, purchasing 158,200 shares at an average price of C$5.89 per share, although only 0.24% of the stock is currently owned by them.

Athabasca Oil Co. (TSE:ATH - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$5.54 and traded as high as C$6.76. Athabasca Oil shares last traded at C$6.66, with a volume of 1,008,513 shares traded.

Wall Street Analyst Weigh In

Separately, Scotiabank cut Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 price objective on the stock. in a report on Friday, July 11th. Two research 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$6.17.

Athabasca Oil Trading Down 1.6%

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 company has a market capitalization of C$3.31 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of -0.51 and a beta of 1.16. The business has a fifty day moving average price of C$6.09 and a 200 day moving average price of C$5.54.

Insiders Place Their Bets

In other news, insider Athabasca Oil Corporation purchased 158,200 shares of Athabasca Oil stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of C$5.89 per share, with a total value of C$932,414.98. 0.24% of the stock is currently owned by company insiders.

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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