Athabasca Oil (TSE:ATH) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Athabasca Oil's share price recently crossed above its 200-day moving average, reaching a high of C$5.81 before closing at C$5.70.
• Scotiabank downgraded Athabasca Oil from a "strong-buy" rating to a "hold" rating, setting a price target of C$6.50.
• Insiders at Athabasca Oil purchased 158,200 shares at an average price of C$5.89, indicating confidence in the company's future performance.

Shares of Athabasca Oil Co. (TSE:ATH - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$5.18 and traded as high as C$5.81. Athabasca Oil shares last traded at C$5.70, with a volume of 1,338,915 shares trading hands.

Analyst Ratings Changes

Separately, Scotiabank cut Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 price objective on the stock. in a research report on Friday, July 11th.

Athabasca Oil Price Performance

The firm has a fifty day moving average price of C$5.67 and a two-hundred day moving average price of C$5.19. The stock has a market capitalization of C$2.94 billion, a P/E ratio of 13.32, a PEG ratio of -0.51 and a beta of 2.05. The company has a debt-to-equity ratio of 12.55, a quick ratio of 1.24 and a current ratio of 2.54.

Insider Buying and Selling at Athabasca Oil

In related news, insider Athabasca Oil Corporation bought 158,200 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought 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.

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.