Athabasca Oil (TSE:ATH) Reaches New 12-Month High – Here’s Why

Athabasca Oil Co. (TSE:ATH) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$5.79 and last traded at C$5.70, with a volume of 885374 shares trading hands. The stock had previously closed at C$5.58.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank set a C$6.50 target price on Athabasca Oil and gave the company an “outperform” rating in a report on Tuesday, October 15th. National Bankshares dropped their target price on shares of Athabasca Oil from C$7.50 to C$6.50 in a research report on Friday, September 27th. Raymond James raised shares of Athabasca Oil to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Athabasca Oil from C$5.50 to C$6.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, TD Securities reduced their price target on Athabasca Oil from C$6.00 to C$5.50 in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Athabasca Oil presently has a consensus rating of “Moderate Buy” and an average price target of C$6.25.

Athabasca Oil Trading Up 3.0 %

The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 11.60. The company has a market cap of C$3.13 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of -0.51 and a beta of 2.05. The firm has a 50-day moving average price of C$5.17 and a 200 day moving average price of C$5.21.

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.