Athabasca Oil (TSE:ATH) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Athabasca Oil Co. shares surpassed their 200-day moving average during trading, reaching a peak of C$6.20 before settling at C$6.02.
• Scotiabank downgraded Athabasca Oil from a "strong-buy" to a "hold" rating, with a new target price of C$6.50.
• Insiders have been active, with the Athabasca Oil Corporation purchasing 158,200 shares recently at an average price of C$5.89.

Athabasca Oil Co. (TSE:ATH - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$5.28 and traded as high as C$6.20. Athabasca Oil shares last traded at C$6.02, with a volume of 1,977,554 shares changing hands.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered Athabasca Oil from a "strong-buy" rating to a "hold" rating and set a C$6.50 price objective 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, the stock presently has an average rating of "Hold" and a consensus price target of C$6.10.

Athabasca Oil Stock Performance

The company has a market capitalization of C$3.01 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of -0.51 and a beta of 1.14. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55. The stock's fifty day simple moving average is C$5.76 and its 200-day simple moving average is C$5.31.

Insider Activity at Athabasca Oil

In other news, insider Athabasca Oil Corporation bought 158,200 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of C$5.89 per share, for a total transaction of C$932,414.98. Corporate insiders own 0.24% of the company's stock.

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.