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

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James Financial boosted their target price on Athabasca Oil from C$6.50 to C$7.00 in a research note on Thursday, October 30th. Scotiabank boosted their price objective on Athabasca Oil from C$6.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. TD Securities increased their price objective on Athabasca Oil from C$6.50 to C$7.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada raised their target price on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Athabasca Oil presently has an average rating of “Hold” and a consensus price target of C$6.80.

Athabasca Oil Price Performance

The stock 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. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55. The business has a fifty day simple moving average of C$6.60 and a two-hundred day simple moving average of C$5.88.

Insider Buying and Selling at Athabasca Oil

In related news, insider Athabasca Oil Corporation acquired 129,800 shares of Athabasca Oil stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of C$6.82 per share, with a total value of C$885,236.00. Following the transaction, the insider directly owned 2,844,700 shares in the company, valued at approximately C$19,400,854. This represents a 4.78% increase in their ownership of the stock. In the last quarter, insiders purchased 2,844,700 shares of company stock valued at $18,986,013. Corporate 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.