Athabasca Oil (TSE:ATH) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Athabasca Oil Co. shares have surpassed their 200-day moving average of C$5.40, trading as high as C$6.57, with recent trades occurring at C$6.55.
• Analysts at Scotiabank have downgraded the stock from a "strong-buy" to a "hold" rating, setting a target price of C$6.50, while the consensus price target stands at C$6.10.
• The company's recent insider activity includes the purchase of 158,200 shares at an average price of C$5.89 per share, indicating continued confidence from management.

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$5.40 and traded as high as C$6.57. Athabasca Oil shares last traded at C$6.55, with a volume of 5,221,597 shares trading hands.

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 report on Friday, July 11th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Athabasca Oil presently has an average rating of "Hold" and a consensus target price of C$6.10.

Athabasca Oil Stock Down 0.5%

The company's fifty day moving average is C$5.93 and its 200-day moving average is C$5.45. The company has a market capitalization of C$3.23 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of -0.51 and a beta of 1.16. The company has a debt-to-equity ratio of 12.55, a quick ratio of 1.24 and a current ratio of 2.54.

Insiders Place Their Bets

In other Athabasca Oil news, insider Athabasca Oil Corporation purchased 158,200 shares of the company's stock in a transaction on Thursday, July 31st. The stock was acquired 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 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.