Athabasca Oil (TSE:ATH) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Athabasca Oil shares moved above their 200-day moving average on Wednesday, briefly reaching C$10.98 before last trading at C$10.74.
• Analysts remain mixed overall, with several recent price-target increases and upgrades, but the stock still carries a consensus rating of “Hold” and an average target of C$10.89.
• The company reported C$0.10 EPS in its latest quarter on revenue of C$355.58 million, while insiders have also been buying shares, including a recent purchase of 49,900 shares.

Athabasca Oil Co. (TSE:ATH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$9.78 and traded as high as C$10.98. Athabasca Oil shares last traded at C$10.74, with a volume of 1,215,049 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ATH shares. Jefferies Financial Group set a C$14.00 price objective on shares of Athabasca Oil and gave the stock a "buy" rating in a research report on Thursday, June 4th. National Bank Financial boosted their price target on shares of Athabasca Oil from C$9.00 to C$12.50 and gave the stock an "outperform" rating in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their price target on shares of Athabasca Oil from C$12.00 to C$12.50 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Finally, Raymond James Financial upgraded shares of Athabasca Oil from a "hold" rating to a "moderate buy" rating and raised their price objective for the company from C$8.00 to C$13.00 in a research report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of C$10.89.

Athabasca Oil Stock Performance

The stock has a market capitalization of C$5.20 billion, a price-to-earnings ratio of 23.87, a PEG ratio of -0.51 and a beta of -0.19. The stock's 50 day moving average is C$11.14 and its 200 day moving average is C$9.78. The company has a current ratio of 1.74, a quick ratio of 1.24 and a debt-to-equity ratio of 11.35.

Athabasca Oil (TSE:ATH - Get Free Report) last announced its earnings results on Thursday, May 7th. The oil and gas exploration company reported C$0.10 earnings per share (EPS) for the quarter. Athabasca Oil had a net margin of 16.25% and a return on equity of 12.23%. The company had revenue of C$355.58 million during the quarter. On average, analysts predict that Athabasca Oil Co. will post 0.5403473 earnings per share for the current year.

Insider Activity

In related news, insider Athabasca Oil Corporation acquired 49,900 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of C$10.18 per share, for a total transaction of C$507,982.00. Following the transaction, the insider directly owned 922,900 shares of the company's stock, valued at approximately C$9,395,122. This trade represents a 5.72% increase in their position. In the last three months, insiders purchased 476,400 shares of company stock worth $5,086,334. 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.

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