Royal Bank of Canada Lowers Athabasca Oil (OTCMKTS:ATHOF) to Sell

Royal Bank of Canada cut shares of Athabasca Oil (OTCMKTS:ATHOF) to a sell rating in a research note issued to investors on Friday, TipRanks reports. They currently have $0.60 price objective on the stock.

Separately, CIBC started coverage on Athabasca Oil in a research report on Sunday, August 4th. They issued a buy rating and a $1.30 target price on the stock.

OTCMKTS:ATHOF opened at $0.38 on Friday. The stock’s 50-day simple moving average is $0.47 and its 200 day simple moving average is $0.57. Athabasca Oil has a 52-week low of $0.38 and a 52-week high of $1.16.

About Athabasca Oil

Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates in Light Oil and Thermal Oil segments. Its principal properties are the Kaybob and Placid asset areas located in northwestern Alberta; and the Leismer and Hangingstone assets located in northeastern Alberta.

Further Reading: Gross Domestic Product (GDP)

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