Athabasca Oil (TSE:ATH) Stock Jumps 0.4% - What's Next?

Key Points

• Athabasca Oil shares rose 0.4% to C$11.50, while trading volume climbed 90% above its average to 5.8 million shares.
• Analyst sentiment was cautious: six analysts rated the stock Hold and one Sell, giving it an average “Reduce” rating and a C$11.22 price target.
• The company reported quarterly earnings of C$0.16 per share on C$360.89 million in revenue; insiders have also bought 760,200 shares over the past 90 days.

Shares of Athabasca Oil Co. (TSE:ATH - Get Free Report) were up 0.4% on Monday. The stock traded as high as C$11.52 and last traded at C$11.50. 5,811,203 shares traded hands during trading, an increase of 90% from the average daily volume of 3,051,852 shares. The stock had previously closed at C$11.45.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATH. TD cut shares of Athabasca Oil from a "hold" rating to a "tender" rating and increased their target price for the stock from C$11.00 to C$12.00 in a report on Tuesday, October 6th. Raymond James Financial downgraded shares of Athabasca Oil from a "moderate buy" rating to a "hold" rating and lowered their price objective for the company from C$14.00 to C$12.00 in a research report on Thursday, October 15th. TD Securities lowered shares of Athabasca Oil from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Jefferies Financial Group cut shares of Athabasca Oil from a "buy" rating to a "hold" rating and cut their target price for the stock from C$13.00 to C$12.00 in a report on Monday, October 19th. Finally, Royal Bank Of Canada set a C$12.00 target price on shares of Athabasca Oil and gave the stock a "sector perform" rating in a report on Thursday, September 10th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of C$11.22.

Athabasca Oil Stock Up 0.4%

The firm has a market cap of C$5.52 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of -0.51 and a beta of 0.02. The stock has a 50-day moving average of C$11.32 and a 200-day moving average of C$10.55. The company has a current ratio of 1.75, a quick ratio of 1.24 and a debt-to-equity ratio of 11.07.

Athabasca Oil (TSE:ATH - Get Free Report) last issued its earnings results on Wednesday, October 28th. The oil and gas exploration company reported C$0.16 earnings per share for the quarter. Athabasca Oil had a return on equity of 12.76% and a net margin of 17.03%. The firm had revenue of C$360.89 million for the quarter. As a group, sell-side analysts forecast that Athabasca Oil Co. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Athabasca Oil

In other news, insider Athabasca Oil Corporation acquired 48,700 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average cost of C$10.28 per share, for a total transaction of C$500,636.00. Following the transaction, the insider directly owned 985,700 shares in the company, valued at C$10,132,996. This trade represents a 5.20% increase in their position. Over the last 90 days, insiders have bought 760,200 shares of company stock valued at $7,998,932. 0.24% of the stock is owned by company insiders.

About Athabasca Oil

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca's common shares trade on the TSX under the symbol 'ATH'.

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