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

Key Points

• Athabasca Oil's stock price has crossed above its 200-day moving average, reaching C$6.83 during trading, indicating a potential positive trend.
• Analysts have recently increased their target price for Athabasca Oil to C$7.00, with ratings ranging from "outperform" to "sector perform."
• Insider buying activity was noted, with an insider purchasing 158,200 shares at C$5.89 per share, suggesting confidence in the company's future performance.

Athabasca Oil Co. (TSE:ATH - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$5.70 and traded as high as C$6.83. Athabasca Oil shares last traded at C$6.72, with a volume of 1,243,039 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on ATH. Royal Bank Of Canada upped their target price on Athabasca Oil from C$6.50 to C$7.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Scotiabank upped their target price on Athabasca Oil from C$6.50 to C$7.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$6.67.

Athabasca Oil Stock Down 0.9%

The company has a debt-to-equity ratio of 12.55, a current ratio of 2.54 and a quick ratio of 1.24. The stock has a market cap of C$3.34 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of -0.51 and a beta of 0.99. The business has a fifty day moving average of C$6.41 and a 200-day moving average of C$5.70.

Insider Activity

In other news, insider Athabasca Oil Corporation purchased 158,200 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of C$5.89 per share, for a total transaction of C$932,414.98. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.