Athabasca Oil (TSE:ATH) Reaches New 12-Month High – Here’s What Happened

Athabasca Oil Co. (TSE:ATH)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$7.20 and last traded at C$7.19, with a volume of 441599 shares trading hands. The stock had previously closed at C$7.08.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James Financial increased their price objective on Athabasca Oil from C$6.50 to C$7.00 in a report on Thursday, October 30th. Royal Bank Of Canada raised their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Scotiabank boosted their price objective 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. Finally, TD Securities upped their target price on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$6.80.

Athabasca Oil Stock Up 1.7%

The company has a quick ratio of 1.24, a current ratio of 2.54 and a debt-to-equity ratio of 12.55. The stock has a 50-day simple moving average of C$6.60 and a two-hundred day simple moving average of C$5.88. The firm has a market cap of C$3.50 billion, a PE ratio of 8.28, a P/E/G ratio of -0.51 and a beta of 0.78.

Insider Transactions at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation purchased 129,800 shares of Athabasca Oil stock in a transaction on Friday, October 31st. The shares were acquired at an average cost of C$6.82 per share, for a total transaction of C$885,236.00. Following the completion of the transaction, the insider directly owned 2,844,700 shares of the company’s stock, valued at approximately C$19,400,854. The trade was a 4.78% increase in their ownership of the stock. Insiders purchased a total of 2,844,700 shares of company stock valued at $18,986,013 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

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.