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

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Raymond James Financial increased their price target on shares of Athabasca Oil from C$6.50 to C$7.00 in a report on Thursday, October 30th. Scotiabank upped their price objective 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. Desjardins lowered their target price on shares of Athabasca Oil from C$8.50 to C$8.25 and set a “hold” rating on the stock in a research note on Friday, December 12th. Royal Bank Of Canada lifted their price target on Athabasca Oil from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, TD Securities upped their price target on Athabasca Oil from C$6.50 to C$7.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$7.04.

Athabasca Oil Stock Performance

The company has a market cap of C$3.12 billion, a PE ratio of 7.37, a PEG ratio of -0.51 and a beta of 0.68. The company has a debt-to-equity ratio of 12.55, a quick ratio of 1.24 and a current ratio of 2.54. The firm’s 50 day moving average is C$7.24 and its 200-day moving average is C$6.50.

Athabasca Oil (TSE:ATH) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas exploration company reported C$0.14 EPS for the quarter. Athabasca Oil had a return on equity of 14.73% and a net margin of 17.53%.The firm had revenue of C$321.09 million for the quarter. On average, research analysts anticipate that Athabasca Oil Co. will post 0.5403473 earnings per share for the current fiscal year.

Insider Activity at Athabasca Oil

In related news, insider Athabasca Oil Corporation bought 138,100 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were bought at an average price of C$6.25 per share, with a total value of C$863,125.00. Following the completion of the transaction, the insider directly owned 1,552,300 shares of the company’s stock, valued at C$9,701,875. This represents a 9.77% increase in their position. Over the last quarter, insiders acquired 2,083,500 shares of company stock valued at $13,812,809. 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.