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

Key Points

• Athabasca Oil's stock price surpassed its 200-day moving average of C$5.23, reaching a high of C$5.75 before last trading at C$5.66 with significant trading volume.
• Scotiabank downgraded Athabasca Oil from a "strong-buy" to a "hold" rating, setting a target price of C$6.50, amidst an overall average rating of "Hold" among analysts.
• Insider trading activity included the purchase of 158,200 shares by Athabasca Oil Corporation at an average price of C$5.89 per share, reflecting confidence in the company's future.

Athabasca Oil Co. (TSE:ATH - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.23 and traded as high as C$5.75. Athabasca Oil shares last traded at C$5.66, with a volume of 1,199,965 shares traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 target price 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 MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$6.10.

Athabasca Oil Trading Down 0.5%

The stock has a 50 day moving average of C$5.73 and a 200 day moving average of C$5.25. The firm has a market cap of C$3.17 billion, a P/E ratio of 14.35, a PEG ratio of -0.51 and a beta of 2.05. The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24.

Insider Activity

In related news, insider Athabasca Oil Corporation acquired 158,200 shares of Athabasca Oil stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of C$5.89 per share, with a total value of C$932,414.98. Company insiders own 0.24% of the company's stock.

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.