Athabasca Oil Co. (OTCMKTS:ATHOF) Stock Short Interest Declines 57.0%

Athabasca Oil Co. (OTCMKTS:ATHOF) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 3,116,710 shares, a decrease of 57.0% from the September 30th total of 7,246,187 shares. Based on an average daily trading volume, of 2,320,610 shares, the short-interest ratio is presently 1.3 days.

Athabasca Oil Trading Up 0.6%

OTCMKTS:ATHOF opened at $8.59 on Friday. The firm’s fifty day simple moving average is $8.00 and its 200 day simple moving average is $7.49. Athabasca Oil has a twelve month low of $4.52 and a twelve month high of $10.68.

Wall Street Analyst Weigh In

A number of equities analysts have 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. Jefferies Financial Group lowered shares of Athabasca Oil from a “buy” rating to a “hold” rating in a report on Friday, October 16th. BMO Capital Markets cut Athabasca Oil to a “market perform” rating in a research note on Wednesday, September 16th. Raymond James Financial restated an “outperform” rating on shares of Athabasca Oil in a report on Wednesday, September 16th. Finally, Scotiabank restated a “sector perform” rating on shares of Athabasca Oil in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Athabasca Oil presently has an average rating of “Hold”.

About Athabasca Oil

Athabasca Oil Corporation is a Canadian energy company focused on the exploration, development and production of oil resources in Alberta. Its operations are concentrated in the Western Canadian Sedimentary Basin, with a particular emphasis on northern Alberta’s oil sands and thermal oil projects.

The company produces bitumen from thermal oil developments, using steam-assisted recovery methods, as well as light oil from conventional and unconventional formations. Its asset portfolio has included the Hangingstone and Sunrise oil sands projects and light oil interests in the Duvernay region.