Athabasca Oil (TSE:ATH) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Athabasca Oil's shares have recently crossed above their 200-day moving average, trading at C$7.09, which represents a significant increase from its average of C$5.60.
• Analyst ratings have seen mixed responses, with one upgrade to an "outperform" rating and a target price increase to C$7.00, while Scotiabank has downgraded it to a "hold" with a target of C$6.50.
• Insider buying activity was noted, with Athabasca Oil Corporation purchasing 158,200 shares at an average price of C$5.89, highlighting confidence in the company's future.

Athabasca Oil Co. (TSE:ATH - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$5.60 and traded as high as C$7.20. Athabasca Oil shares last traded at C$7.09, with a volume of 3,755,769 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ATH shares. Scotiabank lowered shares of Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 target price on the stock. in a report on Friday, July 11th. Royal Bank Of Canada boosted their price target on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$6.50.

Athabasca Oil Stock Up 2.5%

The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55. The stock's 50-day moving average is C$6.21 and its 200-day moving average is C$5.60. The company has a market cap of C$3.52 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of -0.51 and a beta of 0.99.

Insider Activity

In related news, insider Athabasca Oil Corporation bought 158,200 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of C$5.89 per share, for a total transaction of C$932,414.98. 0.24% of the stock is 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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