Athabasca Oil (OTCMKTS:ATHOF) Shares Pass Below 50-Day Moving Average – Here’s Why

Athabasca Oil Co. (OTCMKTS:ATHOF) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.19 and traded as low as $4.9845. Athabasca Oil shares last traded at $5.03, with a volume of 60,556 shares traded.

Wall Street Analyst Weigh In

ATHOF has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Athabasca Oil in a research note on Friday, October 31st. TD Securities reissued a “hold” rating on shares of Athabasca Oil in a report on Thursday, October 30th. Raymond James Financial reaffirmed a “market perform” rating on shares of Athabasca Oil in a research note on Thursday, October 30th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Athabasca Oil in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Athabasca Oil Stock Up 0.4%

The business’s 50 day moving average price is $5.19 and its 200-day moving average price is $4.72.

About Athabasca Oil

Athabasca Oil Corporation, trading as ATHOF on the OTCMKTS, is a Canadian energy company focused on the exploration, development and production of heavy oil and bitumen resources. The company’s asset portfolio spans key regions in Western Canada, including the Peace River, Cold Lake and Lloydminster heavy oil plays, as well as select light oil and natural gas opportunities in emerging formations.

Through a vertically integrated operating model, Athabasca Oil manages activities from reservoir optimization and drilling to surface facility construction and bitumen handling.