Athabasca Oil (TSE:ATH) Shares Down 8.2% – Here’s What Happened

Shares of Athabasca Oil Co. (TSE:ATH) were down 8.2% during mid-day trading on Thursday . The company traded as low as C$4.43 and last traded at C$4.45. Approximately 792,149 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,594,713 shares. The stock had previously closed at C$4.85.

Wall Street Analysts Forecast Growth

ATH has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on Athabasca Oil from C$7.00 to C$6.00 in a research note on Thursday, March 6th. Royal Bank of Canada raised Athabasca Oil from a “hold” rating to a “moderate buy” rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.25.

Athabasca Oil Trading Up 0.9 %

The stock has a fifty day moving average of C$4.95 and a two-hundred day moving average of C$5.08. The company has a market capitalization of C$2.35 billion, a PE ratio of 10.64, a PEG ratio of -0.51 and a beta of 2.05. The company has a current ratio of 2.54, a quick ratio of 1.24 and a debt-to-equity ratio of 12.55.

Insider Activity

In related news, insider Athabasca Oil Corporation bought 105,700 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of C$4.91 per share, for a total transaction of C$519,409.80. 0.24% of the stock is owned by corporate 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.