Athabasca Oil Co. (OTCMKTS:ATHOF – Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 3,116,710 shares, a decline of 57.0% from the September 30th total of 7,246,187 shares. Based on an average trading volume of 2,320,610 shares, the days-to-cover ratio is presently 1.3 days.
Athabasca Oil Stock Up 0.2%
ATHOF stock traded up $0.02 during trading on Friday, hitting $8.56. 21,647 shares of the company traded hands, compared to its average volume of 439,108. Athabasca Oil has a 1 year low of $4.52 and a 1 year high of $10.68. The stock’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $7.47.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. TD Securities cut shares of Athabasca Oil from a “hold” rating to a “sell” rating in a research report on Monday, October 5th. Scotiabank restated a “sector perform” rating on shares of Athabasca Oil in a research note on Tuesday, October 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of Athabasca Oil in a report on Wednesday, September 16th. Jefferies Financial Group cut Athabasca Oil from a “buy” rating to a “hold” rating in a research note on Friday, October 16th. Finally, BMO Capital Markets cut shares of Athabasca Oil to a “market perform” rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Athabasca Oil currently has a consensus rating of “Hold”.
Get Our Latest Stock Report on Athabasca Oil
Athabasca Oil Company Profile
Athabasca Oil Corporation is a Canadian oil exploration and production company focused on developing and producing crude oil in Alberta’s Western Canadian Sedimentary Basin. The company’s operations are concentrated in northern Alberta, where it holds a portfolio of thermal oil and light oil assets.
Athabasca’s thermal oil business includes the Hangingstone project and other bitumen resources developed through in situ production methods. Its light oil business is focused primarily on the Duvernay formation, where the company uses horizontal drilling and hydraulic fracturing to produce light, high-value crude oil and condensate.
Founded in 2006 and headquartered in Calgary, Alberta, Athabasca Oil has built its business around Alberta’s substantial oil resources and related infrastructure.
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