Athabasca Oil (TSE:ATH) Shares Down 7.3% – Here’s Why

Athabasca Oil Co. (TSE:ATH)’s stock price traded down 7.3% during trading on Monday . The stock traded as low as C$6.42 and last traded at C$6.62. 1,775,483 shares changed hands during mid-day trading, an increase of 103% from the average session volume of 873,894 shares. The stock had previously closed at C$7.14.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ATH shares. Desjardins decreased their price target on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating for the company in a research report on Friday, December 12th. Raymond James Financial increased their price objective on shares of Athabasca Oil from C$6.50 to C$7.00 in a research note on Thursday, October 30th. Scotiabank boosted their target price on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. TD Securities upped their target price on shares of 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 increased their price target on shares of Athabasca Oil from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$7.04.

Athabasca Oil Trading Down 6.9%

The firm has a market cap of C$3.23 billion, a P/E ratio of 7.64, a P/E/G ratio of -0.51 and a beta of 0.68. The business’s 50-day moving average is C$7.25 and its two-hundred day moving average is C$6.50. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55.

Athabasca Oil (TSE:ATH) last issued its earnings results on Thursday, October 30th. The oil and gas exploration company reported C$0.14 EPS for the quarter. The company had revenue of C$321.09 million during the quarter. Athabasca Oil had a return on equity of 14.73% and a net margin of 17.53%. As a group, analysts expect that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insider Activity at Athabasca Oil

In other Athabasca Oil news, insider Athabasca Oil Corporation purchased 129,800 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were bought at an average price of C$6.82 per share, with a total value of C$885,236.00. Following the completion of the acquisition, the insider owned 2,844,700 shares in the company, valued at approximately C$19,400,854. This represents a 4.78% increase in their position. Insiders have purchased a total of 2,332,500 shares of company stock valued at $15,539,003 in the last quarter. 0.24% of the stock is currently owned by company insiders.

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.