Athabasca Oil (TSE:ATH) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Athabasca Oil Co. (TSE:ATH)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.24 and traded as high as C$11.85. Athabasca Oil shares last traded at C$11.56, with a volume of 1,970,985 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ATH. TD Securities boosted their price target on shares of Athabasca Oil from C$6.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday, March 6th. Royal Bank Of Canada boosted their price target on shares of Athabasca Oil from C$12.00 to C$12.50 and gave the company a “sector perform” rating in a research note on Friday, May 8th. National Bank Financial boosted their price target on shares of Athabasca Oil from C$9.00 to C$12.50 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Raymond James Financial raised shares of Athabasca Oil from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$8.00 to C$13.00 in a research note on Monday, March 30th. Finally, Jefferies Financial Group set a C$14.00 price objective on shares of Athabasca Oil and gave the company a “buy” rating in a report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Athabasca Oil has an average rating of “Hold” and an average target price of C$10.89.

Athabasca Oil Stock Performance

The stock has a market cap of C$5.46 billion, a price-to-earnings ratio of 25.07, a PEG ratio of -0.51 and a beta of -0.22. The stock’s 50 day moving average is C$11.43 and its two-hundred day moving average is C$9.26. The company has a current ratio of 1.74, a quick ratio of 1.24 and a debt-to-equity ratio of 11.35.

Athabasca Oil (TSE:ATH) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas exploration company reported C$0.10 earnings per share for the quarter. The firm had revenue of C$355.58 million during the quarter. Athabasca Oil had a net margin of 16.25% and a return on equity of 12.23%. Analysts anticipate that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Athabasca Oil Corporation acquired 46,900 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of C$11.00 per share, for a total transaction of C$515,900.00. Following the transaction, the insider owned 957,400 shares in the company, valued at C$10,531,400. This represents a 5.15% increase in their ownership of the stock. In the last ninety days, insiders have acquired 182,900 shares of company stock worth $2,053,950. 0.24% of the stock is currently owned by corporate 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.