Athabasca Oil (TSE:ATH) Trading Up 4.5% – Here’s Why

Athabasca Oil Co. (TSE:ATH) shares shot up 4.5% during mid-day trading on Wednesday . The stock traded as high as C$4.51 and last traded at C$4.40. 3,043,532 shares were traded during mid-day trading, an increase of 19% from the average session volume of 2,551,866 shares. The stock had previously closed at C$4.21.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATH. Royal Bank of Canada upgraded shares of Athabasca Oil from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 10th. BMO Capital Markets cut their price target on shares of Athabasca Oil from C$7.00 to C$6.00 in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$6.25.

Athabasca Oil Price Performance

The company has a debt-to-equity ratio of 12.55, a quick ratio of 1.24 and a current ratio of 2.54. The firm’s fifty day simple moving average is C$4.96 and its 200 day simple moving average is C$5.08. The firm has a market cap of C$2.35 billion, a P/E ratio of 10.64, a P/E/G ratio of -0.51 and a beta of 2.05.

Insider Buying and Selling at Athabasca Oil

In other news, insider Athabasca Oil Corporation bought 105,700 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of C$4.91 per share, for a total transaction of C$519,409.80. Company 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.