Athabasca Oil (TSE:ATH) Trading Down 8.1% – Here’s What Happened

Athabasca Oil Co. (TSE:ATH) shares traded down 8.1% during trading on Monday . The company traded as low as C$6.42 and last traded at C$6.56. 1,868,346 shares changed hands during mid-day trading, an increase of 114% from the average session volume of 873,894 shares. The stock had previously closed at C$7.14.

Analysts Set New Price Targets

Several brokerages recently issued reports on ATH. Raymond James Financial boosted their price objective on Athabasca Oil from C$6.50 to C$7.00 in a research report on Thursday, October 30th. Scotiabank lifted their price target on shares of 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. Royal Bank Of Canada upped their price target on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Desjardins lowered their price objective on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a research report on Friday, December 12th. Finally, TD Securities boosted their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$7.04.

Athabasca Oil Trading Down 6.9%

The stock has a market cap of C$3.23 billion, a price-to-earnings ratio of 7.64, a PEG ratio of -0.51 and a beta of 0.68. The business’s 50 day simple moving average is C$7.25 and its 200 day simple moving average is C$6.50. The company has a quick ratio of 1.24, a current ratio of 2.54 and a debt-to-equity ratio of 12.55.

Athabasca Oil (TSE:ATH) last issued its earnings results on Thursday, October 30th. The oil and gas exploration company reported C$0.14 EPS for the quarter. The company had revenue of C$321.09 million during the quarter. Athabasca Oil had a return on equity of 14.73% and a net margin of 17.53%. On average, research analysts expect that Athabasca Oil Co. will post 0.5403473 EPS for the current fiscal year.

Insider Activity

In related news, insider Athabasca Oil Corporation purchased 129,800 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of C$6.82 per share, for a total transaction of C$885,236.00. Following the completion of the transaction, the insider owned 2,844,700 shares of the company’s stock, valued at approximately C$19,400,854. This trade represents a 4.78% increase in their ownership of the stock. Insiders purchased 2,332,500 shares of company stock valued at $15,539,003 in the last three months. 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.