Athabasca Oil (TSE:ATH) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Athabasca Oil's share price recently crossed above its 200-day moving average of C$5.33, reaching a high of C$6.15 during trading.
• Scotiabank has downgraded Athabasca Oil from a "strong-buy" rating to a "hold" rating, setting a price target of C$6.50.
• Insider buying was noted, with Athabasca Oil Corporation purchasing 158,200 shares at an average cost of C$5.89 per share.

Athabasca Oil Co. (TSE:ATH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$5.33 and traded as high as C$6.15. Athabasca Oil shares last traded at C$6.11, with a volume of 1,640,303 shares traded.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered 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 research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$6.10.

Athabasca Oil Trading Up 0.2%

The firm has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of -0.51 and a beta of 1.16. The firm's 50 day moving average is C$5.85 and its 200 day moving average is C$5.38. 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 Buying and Selling

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