Athabasca Oil (TSE:ATH) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Athabasca Oil shares recently rose above their 200-day moving average, reaching a high of C$6.20, with current trading at C$6.02.
• Scotiabank downgraded the stock from "strong-buy" to "hold" and set a price target of C$6.50, amid an average hold rating among analysts.
• Insiders at Athabasca Oil purchased 158,200 shares recently, indicating confidence in the company, despite a low insider ownership percentage of 0.24%.

Athabasca Oil Co. (TSE:ATH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$5.28 and traded as high as C$6.20. Athabasca Oil shares last traded at C$6.02, with a volume of 1,977,554 shares changing hands.

Wall Street Analyst Weigh In

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

Athabasca Oil Trading Down 0.2%

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 business has a 50-day moving average price of C$5.76 and a two-hundred day moving average price of C$5.31. The firm has a market cap of C$3.01 billion, a PE ratio of 7.06, a PEG ratio of -0.51 and a beta of 1.14.

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 that occurred on Thursday, July 31st. The stock was purchased 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 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.