Athabasca Oil Insider Acquires 121,900 Shares in Strategic Move

On October 9, 2023, an insider from Athabasca Oil Corporation, trading on the Toronto Stock Exchange under the ticker symbol TSE:ATH, purchased a significant total of 121,900 shares. The shares were acquired at an average price of C$7.09 each, leading to a total investment of C$864,271. Following this transaction, the insider’s ownership in the company rose to 883,100 shares, valued at approximately C$6,261,179. This acquisition reflects a 16.01% increase in their total stake.

This recent purchase is part of a series of transactions conducted by Athabasca Oil Corporation. On October 1, the corporation bought 128,000 shares at an average price of C$6.72 each for a total of C$860,160. Subsequently, on October 2, an additional 128,400 shares were acquired under the same average price, culminating in a transaction of C$862,848.

In the following days, the company continued its buying spree, acquiring 128,800 shares on October 3 at C$6.69 each, and 127,000 shares on October 6 at C$6.79 per share. Each of these transactions contributed to an increase in the corporation’s holdings. By October 7, a further 126,800 shares were purchased at C$6.80 each, followed by 122,200 shares on October 8 for C$7.07.

The trend continued as Athabasca Oil Corporation acquired 127,900 shares on October 10 at C$6.74 and another 137,500 shares at C$6.26. The following week, on October 14, the company bought 132,200 shares at C$6.53, and on October 15, 133,500 shares at C$6.47.

Market Reactions and Company Performance

As of October 9, shares of Athabasca Oil traded up 2.0%, reaching C$7.03. During the day, the trading volume amounted to 1,024,016 shares, significantly lower than the average volume of 2,397,190 shares. The company’s fifty-day moving average stands at C$6.51, while the 200-day moving average is C$5.81.

Athabasca Oil Corporation has demonstrated a solid financial position, with a debt-to-equity ratio of 12.55. The current ratio is 2.54, and the quick ratio is 1.24. The stock has experienced fluctuations over the past year, with a fifty-two week low of C$4.05 and a high of C$7.20. The company currently has a market capitalization of C$3.42 billion, a PE ratio of 8.08, and a price-to-earnings-growth ratio of -0.51.

About Athabasca Oil Corporation

Athabasca Oil Corporation is primarily focused on the exploration, development, and production of light oil and liquids-rich natural gas. The company operates under two segments: Light Oil and Thermal Oil, with the Thermal Oil segment generating the majority of its revenue. This segment is dedicated to the exploration, development, and production of bitumen derived from sand and carbonate rock formations located in the Athabasca region of Northern Alberta.

The recent insider transactions and market performance indicate a strategic position taken by Athabasca Oil Corporation in an evolving energy landscape. Investors and analysts will be watching closely to see how these moves affect the company’s standing and future growth prospects.