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

Key Points

• Athabasca Oil shares crossed above their 200-day moving average, reaching C$10.64 before closing at C$10.59 on volume of 1.44 million shares.
• Analysts maintain a consensus “Hold” rating with an average price target of C$11.50; individual targets range from C$12.50 to C$14.00.
• The company reported quarterly earnings of C$0.13 per share and C$306.54 million in revenue, while insiders have purchased 866,800 shares worth approximately C$9.26 million over the past three months.

Athabasca Oil Co. (TSE:ATH - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.26 and traded as high as C$10.64. Athabasca Oil shares last traded at C$10.59, with a volume of 1,435,158 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on ATH shares. Desjardins set a C$12.50 price target on shares of Athabasca Oil and gave the company a "hold" rating in a research note on Friday, July 17th. 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 note on Thursday, June 4th. Finally, Royal Bank Of Canada upped their target price on shares of Athabasca Oil from C$12.00 to C$12.50 and gave the company a "sector perform" rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Athabasca Oil has a consensus rating of "Hold" and an average price target of C$11.50.

Athabasca Oil Price Performance

The firm has a market capitalization of C$5.10 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of -0.51 and a beta of -0.23. The company's 50 day moving average is C$10.66 and its 200 day moving average is C$10.26. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 10.95.

Athabasca Oil (TSE:ATH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas exploration company reported C$0.13 earnings per share for the quarter. The business had revenue of C$306.54 million during the quarter. Athabasca Oil had a net margin of 17.68% and a return on equity of 12.57%. On average, equities research analysts anticipate that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insider Buying and Selling at Athabasca Oil

In related news, insider Athabasca Oil Corporation purchased 43,500 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of C$10.41 per share, for a total transaction of C$452,835.00. Following the completion of the purchase, the insider owned 993,600 shares in the company, valued at approximately C$10,343,376. This represents a 4.58% increase in their position. Insiders have purchased 866,800 shares of company stock valued at $9,255,265 in the last three months. 0.24% of the stock is currently 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.

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